Okla. Stat. tit. 2, § 2-12 – Unpaid Checks Not an Asset After Five Years - Uncollectable Debt Determination and Reporting

For accounting purposes only, when any check has been received by the State Board of Agriculture, or the State Department of Agriculture, and has remained unpaid for a period of more than five (5) years, and the Board determines that the check cannot be collected, the amount of the check shall not be included or carried as an asset of the Board or any of its funds.

Laws 1955, HB 505, art. 2, § 12, emerg. eff. June 3, 1955; Amended by Laws 2000, SB 1402, c. 243, § 16, emerg. eff. May 24, 2000 (superseded document available).