55 Music Square East Nashville, TN 37203 (615) 320-0055 or 1-800-826-9996 sesac.com Complying with Oregon’s Unclaimed Property LawUnclaimed property is any amount of money owed to another person or entity that cannot be found. Oregon law requires businesses and organizations to report all unclaimed assets each year to the Oregon Department of State Lands. Common types of unclaimed property include: Uncashed payroll checks Refunds and other deposits Accounts receivable –credit balances Stocks and securities Information on how to report is in the Department’s step-by-step guide on unclaimed property reporting.
OREGON START A BUSINESS GUIDE40 Oregon Identity Theft Protection Act Oregon law requires individuals, businesses, and organizations that collect and maintain personal identifying information to follow requirements to help protect consumers from identity theft. Personal identifying information is a consumer’s name in combination with a Social Security number, Oregon driver license or Oregon identification card number issued by the Department of Motor Vehicles-Oregon Department of Transportation, or a financial account or credit or debit card number along with security or access codes or password that would allow someone to access a consumer’s financial account.Biometric data, including images of a fingerprint, retina or iris, are also considered personal information. Those who maintain Social Security numbers are prohibited from printing them on any documents that are mailed to but not requested by the consumer. If the consumer requests mailed documents that contain a SSN, the number must be redacted or obscured. Further you cannot print a SSN on a card used by the customer that is required to access products or services, nor can you publicly display or post a SSN (such as on a website) or dispose of documents that include a SSN unless the number is redacted or obscured. . In addition, the law requires anyone who owns personal identifying information to notify affected consumers of any security breach if computer files containing that personal information have been subject to a security breach. Oregon businesses and organizations also must safely protect the personal information they maintain by developing, implementing and maintaining reasonable safeguards, including the proper disposal of information that is no longer needed. Owners of a small business (200 employees or less in a manufacturing business, or 50 employees or less in other types of business) comply with the safeguard requirements if its information security and disposal program contains the administrative, technical and physical safeguards and disposal measures appropriate to the business’ size and complexity as well as the nature and scope of its activities, and the sensitivity of the personal information it collects. Those who are subject to and comply with the notification and data safeguard requirements or guidance adopted under the federal Gramm-Leach-Bliley Act already meet Oregon’s requirements for notification and data safeguarding for customers’ personal information. In addition, those who are subject to and comply with the data safeguard