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OK SB200
Bill
AI Summary
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Amends 58 O.S. 2021, Section 693 to require executors or administrators to formally apply to the court for permission to deposit estate funds owed to minors when no guardian is appointed within 90 days
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Requires court orders to specify the bank or financial institution where funds will be deposited and state when funds will be released to a qualified guardian or to the minor upon their 18th birthday
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Court clerks must invest unclaimed deposits exceeding $100.00 in federally-insured savings accounts or certificates of deposit if no qualified person claims the funds within 30 days
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Updates statutory language throughout the section, changing "legally-qualified" to "legally qualified" and modernizing other terminology
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Effective date: November 1, 2025
Legislative Description
Distribution of estates; requiring executor or administrator to make certain application to court; clarifying release of certain monies. Effective date.
Last Action
Becomes law without Governor's signature 05/07/2025
5/7/2025