Question: Our credit union operations are only in Oklahoma, but we have members in many other states. Is it appropriate to escheat all dormant funds to the state of Oklahoma?
Answer: No. Funds should be escheated to the state in which the member resides. That means that you must research rules for submission to other states. This ensures that escheated property goes to an appropriate place for the member (or the member’s heirs) to find it.
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