12-16,118.Transfer of certain money and royalty interest to city of
Oxford; procedure.
(a) As used in this act:
(1) "City" means the city of Oxford, Kansas;
(2) "bank" means the First National Bank of Winfield, located in Winfield,
Kansas; and
(3) "property" means: (A) The balance of money contained in the bank's
account
number 1244620; and (B) the right to receive future royalty payments from
Conoco oil company pursuant to the Oxford community lease.
(b) The governing body of the city may file a petition in the district court
of Sumner county seeking the court to declare property held by the bank to be
abandoned.
(c) Within 30 days of filing a petition pursuant to subsection (b), the
governing body shall cause to be published a notice that such petition has been
filed. Such notice shall be published at least once each week for three
consecutive weeks in the official county newspaper of Sumner county. Such
notice shall be entitled "Notice to Owners of Certain Property," and shall
contain:
(1) A statement that information concerning the amount or description of the
property and the name and address of the holder may be obtained by any persons
possessing an interest in the property by addressing an inquiry to the court;
(2) a statement that if proof of claim is not presented by the owner or any
person claiming ownership of such property to the court and if the owner's
right to receive the property is not established to the court's satisfaction
within 65 days from the date of the third published notice such property shall
escheat to the city; and
(3) the date of the hearing at which such petition and any objections
thereto shall be heard by the court.
(d) The hearing on such petition shall be held no sooner than 65 days
following publication of the third notice required by this section. At such
hearing, the court shall hear testimony on such petition and any objections
thereto.
It shall be presumed that such property is abandoned if for a period of 10
successive years:
(1) The owner has not decreased the amount of the account;
(2) the owner has not corresponded in writing with the bank concerning the
account;
(3) the owner has not indicated otherwise an interest in the account as
evidenced by a memorandum on file with the bank; or
(4) the whereabouts of the owner has been and remains unknown.
(e) Following such hearing, if the court finds: (1) Notice, as required by
this section, has been given; and (2) no proof of claim of ownership has been
given, the court shall enter an order declaring such property to be abandoned.
Upon the entering of such order, such property shall escheat to the city.
(f) Any property which has escheated to the city pursuant to this section
shall be used solely for the purposes of providing water to the city or for
paying the costs of a water supply system of the city.
(g) Upon transfer by the bank of any property which has escheated to the
city
pursuant to this section the bank shall be relieved of all liability
to the extent of the value of the property for any claim which then exists, or
which thereafter may arise, or be made in respect to the property previously
held by the bank.
12-16,118.Transfer of certain money and royalty interest to city of
Oxford; procedure.
(a) As used in this act:
(1) "City" means the city of Oxford, Kansas;
(2) "bank" means the First National Bank of Winfield, located in Winfield,
Kansas; and
(3) "property" means: (A) The balance of money contained in the bank's
account
number 1244620; and (B) the right to receive future royalty payments from
Conoco oil company pursuant to the Oxford community lease.
(b) The governing body of the city may file a petition in the district court
of Sumner county seeking the court to declare property held by the bank to be
abandoned.
(c) Within 30 days of filing a petition pursuant to subsection (b), the
governing body shall cause to be published a notice that such petition has been
filed. Such notice shall be published at least once each week for three
consecutive weeks in the official county newspaper of Sumner county. Such
notice shall be entitled "Notice to Owners of Certain Property," and shall
contain:
(1) A statement that information concerning the amount or description of the
property and the name and address of the holder may be obtained by any persons
possessing an interest in the property by addressing an inquiry to the court;
(2) a statement that if proof of claim is not presented by the owner or any
person claiming ownership of such property to the court and if the owner's
right to receive the property is not established to the court's satisfaction
within 65 days from the date of the third published notice such property shall
escheat to the city; and
(3) the date of the hearing at which such petition and any objections
thereto shall be heard by the court.
(d) The hearing on such petition shall be held no sooner than 65 days
following publication of the third notice required by this section. At such
hearing, the court shall hear testimony on such petition and any objections
thereto.
It shall be presumed that such property is abandoned if for a period of 10
successive years:
(1) The owner has not decreased the amount of the account;
(2) the owner has not corresponded in writing with the bank concerning the
account;
(3) the owner has not indicated otherwise an interest in the account as
evidenced by a memorandum on file with the bank; or
(4) the whereabouts of the owner has been and remains unknown.
(e) Following such hearing, if the court finds: (1) Notice, as required by
this section, has been given; and (2) no proof of claim of ownership has been
given, the court shall enter an order declaring such property to be abandoned.
Upon the entering of such order, such property shall escheat to the city.
(f) Any property which has escheated to the city pursuant to this section
shall be used solely for the purposes of providing water to the city or for
paying the costs of a water supply system of the city.
(g) Upon transfer by the bank of any property which has escheated to the
city
pursuant to this section the bank shall be relieved of all liability
to the extent of the value of the property for any claim which then exists, or
which thereafter may arise, or be made in respect to the property previously
held by the bank.
12-16,118.Transfer of certain money and royalty interest to city of
Oxford; procedure.
(a) As used in this act:
(1) "City" means the city of Oxford, Kansas;
(2) "bank" means the First National Bank of Winfield, located in Winfield,
Kansas; and
(3) "property" means: (A) The balance of money contained in the bank's
account
number 1244620; and (B) the right to receive future royalty payments from
Conoco oil company pursuant to the Oxford community lease.
(b) The governing body of the city may file a petition in the district court
of Sumner county seeking the court to declare property held by the bank to be
abandoned.
(c) Within 30 days of filing a petition pursuant to subsection (b), the
governing body shall cause to be published a notice that such petition has been
filed. Such notice shall be published at least once each week for three
consecutive weeks in the official county newspaper of Sumner county. Such
notice shall be entitled "Notice to Owners of Certain Property," and shall
contain:
(1) A statement that information concerning the amount or description of the
property and the name and address of the holder may be obtained by any persons
possessing an interest in the property by addressing an inquiry to the court;
(2) a statement that if proof of claim is not presented by the owner or any
person claiming ownership of such property to the court and if the owner's
right to receive the property is not established to the court's satisfaction
within 65 days from the date of the third published notice such property shall
escheat to the city; and
(3) the date of the hearing at which such petition and any objections
thereto shall be heard by the court.
(d) The hearing on such petition shall be held no sooner than 65 days
following publication of the third notice required by this section. At such
hearing, the court shall hear testimony on such petition and any objections
thereto.
It shall be presumed that such property is abandoned if for a period of 10
successive years:
(1) The owner has not decreased the amount of the account;
(2) the owner has not corresponded in writing with the bank concerning the
account;
(3) the owner has not indicated otherwise an interest in the account as
evidenced by a memorandum on file with the bank; or
(4) the whereabouts of the owner has been and remains unknown.
(e) Following such hearing, if the court finds: (1) Notice, as required by
this section, has been given; and (2) no proof of claim of ownership has been
given, the court shall enter an order declaring such property to be abandoned.
Upon the entering of such order, such property shall escheat to the city.
(f) Any property which has escheated to the city pursuant to this section
shall be used solely for the purposes of providing water to the city or for
paying the costs of a water supply system of the city.
(g) Upon transfer by the bank of any property which has escheated to the
city
pursuant to this section the bank shall be relieved of all liability
to the extent of the value of the property for any claim which then exists, or
which thereafter may arise, or be made in respect to the property previously
held by the bank.