Senate Bill No. 200 amends Section 693 of the Oklahoma Statutes regarding the distribution of estates, specifically focusing on the payment of monies to 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 also clarifies that the order must state the term for when the funds will be released to the guardian or the minor upon reaching the age of eighteen.

Additionally, the bill updates the language concerning the handling of funds for legatees, heirs, creditors, or claimants whose whereabouts are unknown or who do not accept the funds within 90 days. It allows the court to direct the executor or administrator to deposit these funds in a specified institution for a specified term. The bill also includes provisions for the investment of unclaimed funds exceeding $100 in savings accounts or certificates of deposit. The effective date for this act is set for November 1, 2025.