OK HB2080

Amends Oklahoma law governing Payable on Death (P.O.D.) accounts at credit unions to clarify that if a primary beneficiary predeceases the account owner, funds pass to the deceased account holder's estate rather than the deceased beneficiary's estate

Changes distribution rules so that if a beneficiary dies before the account owner, that beneficiary's share is divided among surviving beneficiaries or distributed to contingent beneficiaries, rather than going to the deceased beneficiary's estate

Requires credit unions to provide written notice to members creating P.O.D. accounts explaining how proceeds will be distributed under these provisions

Eligible P.O.D. beneficiaries must be a trust, an individual, or a 501(c)(3) nonprofit organization; contingent beneficiaries are only permitted when there is a single primary beneficiary who is an individual

Effective date: November 1, 2025