(1) The holder of a security or distribution presumed abandoned under ORS 98.322 shall deliver a certificate of ownership or other evidence of ownership to the State Treasurer as follows:
(a) The original certificate shall be delivered to the State Treasurer when it is held or controlled by the holder.
(b) A duplicate certificate shall be issued to the State Treasurer when the holder does not hold or control the original.
(2) After issuance of a duplicate certificate under subsection (1) of this section, the rights of a protected purchaser of the original certificate are governed by ORS 78.4050. In such event, the protected purchaser may seek recovery against the State Treasurer to the extent allowed under the Oregon Constitution.