Bill No. 200 amends Section 693 of the Oklahoma Statutes regarding the distribution of estates, specifically focusing on the handling of funds designated for minors and other beneficiaries. The bill requires that if a final account and order of distribution directs payment to a minor and no legal guardian is appointed within 90 days, the executor or administrator must apply to the court for permission to prepare an order for the county treasurer to deposit the funds in a specified bank or financial institution. The bill clarifies that the funds will be held in trust until a guardian is appointed or the minor reaches the age of eighteen. Additionally, it updates statutory language to ensure clarity and consistency.

The bill also addresses situations where funds are to be distributed to legatees, heirs, creditors, or claimants whose whereabouts are unknown or who do not accept the funds within 90 days. In such cases, the executor or administrator is directed to deposit the funds in a specified institution for a specified term. Furthermore, if no qualified person claims the funds within 30 days and the amount exceeds $100, the court clerk is authorized to invest the funds in insured savings accounts or certificates of deposit. The act is set to become effective on November 1, 2025.