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 ninety 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 order must also state the term for when the funds will be released to the guardian or the minor upon reaching eighteen years of age. Additionally, the bill clarifies the process for handling funds when a legatee, heir, creditor, or claimant cannot be located or does not accept the payment within ninety days.

The bill also updates statutory language and includes provisions for the investment of unclaimed funds exceeding $100 in savings accounts or certificates of deposit if no demand is made within thirty days. Furthermore, it addresses situations where an heir or legatee dies during probate proceedings, allowing the executor or administrator to deposit the funds with the court clerk if no personal representative is appointed within ninety days. The act is set to become effective on November 1, 2025.