1. (a) The Oklahoma Tax Commission may require any person who has not filed a report to file a verified report stating whether or not the person is holding any unclaimed property reportable or deliverable under this act. If the Commission has reason to believe that any person has failed to report property in accordance with this act, it may make a demand by certified mail, return receipt requested, that such report be made and filed with the Commission. The report of abandoned property or any other report required shall be made and filed with the Commission within sixty (60) days after receipt of the demand.
2. (b) The Commission may at reasonable times and upon reasonable notice examine the records of any person if the Commission has reason to believe that such person has failed to report property that should have been reported pursuant to this act. Notwithstanding Section 205 of Title 68 of the Oklahoma Statutes, the Commission shall not use any information or evidence obtained in the course of an audit for purposes of investigation or enforcement of any state tax law.
3. (c) If a person is treated under Section 656 of this title as the holder of the property only insofar as the interest of the business association in the property is concerned, the Commission, pursuant to subsection (b) of this section, may examine the records of the person if the Commission has given the notice required by subsection (b) of this section to both the person and the business association at least ninety (90) days before the examination.
4. (d) If a holder fails after the effective date of this act to maintain the records required by Section 679.1 of this title and the records of the holder available for the periods subject to this act are insufficient to permit the preparation of a report, the Commission may require the holder to report and pay the amount that is reasonably estimated from any available records.

Laws 1967, HB 532, c. 107, § 28, emerg. eff. April 24, 1967; Amended by Laws 1991, HB 1538, c. 331, § 34, eff. September 1, 1991.