1 STATE OF OKLAHOMA
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2 2nd Session of the 59th Legislature (2024)
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3 SENATE BILL 1661 By: Boren
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6 AS INTRODUCED
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7 An Act relating to distribution of estates; amending
7 58 O.S. 2021, Section 693, which relates to
8 disposition of monies to minor; requiring executor or
8 administrator to make certain application to court;
9 clarifying release of certain monies; updating
9 statutory language; and providing an effective date.
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12 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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13 SECTION 1. AMENDATORY 58 O.S. 2021, Section 693, is
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14 amended to read as follows:
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15 Section 693. A. Whenever a final account and order of
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16 distribution shall direct the payment of monies to a minor, and no
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17 person shall within ninety (90) days thereafter become the legal and
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18 qualified guardian for the minor, so that the executor or
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19 administrator may be discharged, the court may direct the executor
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20 or administrator shall make an application to the court for
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21 permission to prepare an order directing the county treasurer to
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22 make the deposit of:
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 1 1. Specify a bank or financial institution within this state
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2 where the funds in a specified institution and for a will be
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3 deposited; and
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4 2. State the specified term for when the funds will be released
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5 to the legally qualified guardian of the minor, released to the
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6 minor upon his or her eighteenth birthday, or released to the State
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7 Treasurer as unclaimed property after the minor reaches twenty-two
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8 (22) years of age.
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9 Upon receipt of the order, the court clerk shall make a
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10 temporary deposit in the case, and forward the court’s order to the
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11 county treasurer for deposit of the funds in a the specified
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12 institution for a the specified term, with the same effect as though
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13 taken from a legally-qualified legally qualified guardian of the
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14 minor; and the treasurer shall hold the monies in trust for the
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15 minor until a guardian shall be appointed and call for the same, or
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16 until the minor shall become of age and demand the same, or until
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17 released to the State Treasurer as unclaimed property after the
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18 minor reaches twenty-two (22) years of age; provided, that all the
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19 monies in the hands of the treasurer at the expiration of the
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20 treasurer’s term of office must be turned over to the successor in
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21 office.
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22 B. Whenever a final account and order of distribution shall
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23 direct the payment of monies to a legatee, heir, creditor, or
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24 claimant, whose address or whereabouts is not known, or who will not
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 1 accept and receipt for said monies within ninety (90) days
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2 thereafter, so that the executor or administrator may be discharged,
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3 the court may direct the executor or administrator to prepare an
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4 order directing the county treasurer to make the deposit of funds in
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5 a specified institution and for a specified term. Upon receipt of
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6 the order, the court clerk shall make a temporary deposit in the
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7 case, and forward the court’s order to the county treasurer for
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8 deposit of the funds in a specified institution for a specified
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9 term, with the same effect as though taken from the person; and the
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10 treasurer shall hold the monies in trust for the person until a
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11 legal or personal representative shall demand and accept the same;
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12 provided, that all such monies in the hands of the treasurer at the
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13 expiration of the treasurer’s term of office must be turned over to
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14 the successor in office.
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15 C. In the event no person qualified to receive money deposited
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16 with the court clerk makes demand therefor within thirty (30) days
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17 after receipt by the court clerk and the deposit is in excess of One
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18 Hundred Dollars ($100.00), the court clerk is authorized and
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19 directed to invest such funds in one or more savings accounts or
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20 certificates of deposit in a bank or savings and loan association
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21 whose deposits are insured by an agency of the federal government.
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22 When the person legally entitled thereto makes request upon the
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23 court clerk, the account or fund, together with all accumulations,
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24 shall be paid over to the person legally entitled thereto upon the
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 1 court clerk taking a receipt in full for such payment, which receipt
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2 shall be filed in and become a part of the records of the case.
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3 D. Whenever a final account and order of distribution based
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4 thereon shall direct the payment of monies to an heir or legatee who
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5 has died during the pendency of the probate proceedings, and no
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6 person shall within ninety (90) days thereafter become the legal and
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7 qualified personal representative of the deceased heir or legatee,
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8 so that the executor or administrator may be discharged, the court
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9 may make an order directing the executor or administrator to deposit
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10 such money in the hands of the court clerk, taking a receipt
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11 therefor, with the same effect as though taken from a legally-
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12 qualified legally qualified personal representative of the heir or
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13 legatee; and the clerk shall hold such monies in trust until a
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14 personal representative shall demand and accept the same; provided,
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15 that all such monies in the hands of the court clerk at the
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16 expiration of the court clerk’s term of office must be turned over
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17 to the successor in office.
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18 SECTION 2. This act shall become effective November 1, 2024.
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20 59-2-3231 TEK 1/16/2024 12:53:06 PM
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