Statewide
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February 24, 2016
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Madison Grady

Oklahomans strongly oppose changes to the unclaimed property fund

New poll results from SoonerPoll's Quarterly Poll indicate that likely voting Oklahomans oppose any changes to how funds are managed by the state's unclaimed property program. This legislative session, some life insurance companies are seeking legislation to allow them keep millions in unclaimed life insurance proceeds due beneficiaries who could not be located. The same legislation has been introduced for the last two legislative sessions.

However, sixty-two percent (62%) opposed these changes, while only 20 percent supported it and 17 percent were undecided. A majority, 53%, strongly opposed the legislative change.

[box] Started in 1967, Oklahoma’s unclaimed property program has required companies that lose track of those to whom they owe money to remit it, along with their names and last-known addresses, to the state. The names are published in newspapers and on the internet. Money is returned to the owners and some is used by the Legislature for public purposes. Currently, unclaimed property worth more than $585 million is owed to some 900,000 Oklahomans. In the past fiscal year, the State Treasurer, who manages the unclaimed property division, returned $38.7 million to its rightful owners. This legislative session, some life insurance companies are seeking legislation to allow them keep millions in unclaimed life insurance proceeds due beneficiaries who could not be located. Knowing this, do you SUPPORT or OPPOSE these proposed changes to Oklahoma’s unclaimed property program?

1. Strongly support7.32. Somewhat support12.83. Neutral/no opinion/refused [DNR]17.64. Somewhat oppose9.15. Strongly oppose53.3

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Started in 1967, Oklahoma’s unclaimed property program has required companies that lose track of those to whom they owe money to remit it, along with their names and last-known addresses, to the state. The names are published in newspapers and on the internet.

Currently, unclaimed property worth more than $585 million is owed to some 900,000 Oklahomans. In the past fiscal year, the state treasurer, who manages the unclaimed property division, returned $38.7 million to its rightful owners.

No significant variances were observed for any demographic subsets in the poll.

 

About the Poll

SoonerPoll.com, Oklahoma’s public opinion pollster, asked these questions of Oklahoma likely voters as part of the SoonerPoll Quarterly Poll.

The scientific study was conducted from February 9-12, 2016 with 410 likely Oklahoma voters selected at random statewide from a dual frame of both landline telephone and cell phones. The sample was weighted by age, congressional district and gender in order to reflect the Oklahoma likely voter population for a general election.

The sample reflects the traditional demographical profile of the Oklahoma likely voter with roughly half of respondents identifying as conservative and attending religious services once or more per week. The study has a Margin of Error (MoE) of ± 4.84 percent.

This poll not only conforms to the Standards of Disclosure of the National Council on Public Polls but exceeds the standard disclosure with a Call Disposition and Rate Calculation Report. A complete description of the methodology can be found here.

The poll's Call Disposition and Rate Calculation Report can be viewed here. A beta version of the Weighting Table Report can be viewed here.

Madison Grady
About the Author

Madison Grady