Oregon Statutes 711.582 – Disposition of contents of safety deposit boxes
(1) If property is not removed within six months after the time fixed by the notice of the Director of the Department of Consumer and Business Services under ORS § 711.580, the director may sell the property under the direction of the supervising court. The proceeds of the sale shall be held for the benefit of the person entitled to the property. Any funds which have not been claimed within two years after the final order closing the liquidation of the institution may be disposed of in the manner prescribed in ORS § 711.590 for unclaimed dividends and deposits.
Terms Used In Oregon Statutes 711.582
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) If papers or other articles which have no value and cannot be sold are not removed within six months after the time fixed in the notice of the director, the director shall store the papers and articles with the records of the insolvent institution. One year after the final order closing the liquidation of the institution the papers and articles may be destroyed in the manner prescribed in ORS § 711.595 for the records of an insolvent institution. [1973 c.797 § 286]