Notwithstanding the provisions in ORS § 98.308, a holder may not deduct a service charge or fee or otherwise reduce an owner’s unclaimed account unless:

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Terms Used In Oregon Statutes 98.311

  • Contract: A legal written agreement that becomes binding when signed.

(1) There is a valid written contract between the holder and the owner that allows the holder to impose a charge;

(2) The service charge or fee is imposed uniformly on all accounts; and

(3) Three months’ written notice is given by first class mail to the last-known address of all owners before the charge or fee is levied. [1993 c.694 § 45; 2007 c.539 § 2]

 

[1957 c.670 § 5; repealed by 1983 c.716 § 26]