Req. No. 783 Page 1 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
STATE OF OKLAHOMA
1st Session of the 59th Legislature (2023)
SENATE BILL 54 By: Howard
AS INTRODUCED
An Act relating to small estate administratio n;
amending 58 O.S. 2021, Sections 393 and 394, which
relate to payment or delivery of property to
successor by affidavit; authorizing entities and
state agencies to release property upon receipt of
certain affidavit; adding property required to be
paid or delivered upon receipt of certain affidavit;
conforming language; and providing an effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 58 O.S. 2021, Section 393, is
amended to read as follows:
Section 393. A. At any time ten (10) or more days after the
date of death of a decedent, any person, entity, or state agency
indebted to the decedent or having possession of tangible personal
property or an instrument evidencing a debt, obligation, stock,
chose in action, or stock brand, or accounts held on deposi t of
cash, stock, bonds, or other equity belonging to the decedent shall
make payment of the indebtedness or shall deliver the tangible
personal property, or an instrument evidencing a the debt,
obligation, stock, chose in action, or stock brand, or proceeds from
Req. No. 783 Page 2 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
the account held on deposit to a person claiming to be the successor
of the decedent upon being presented an affidavit made by or on
behalf of the successor stating that:
1. The fair market value of property loc ated in this state
owned by the decedent and subject to disposition by will or
intestate succession at the time of the decedent ’s death, less liens
and encumbrances, does not exceed Fi fty Thousand Dollars
($50,000.00);
2. No application or petition for th e appointment of a personal
representative is pending or has been granted in any jurisdiction;
3. Each claiming successor is entitled to payment or delivery
of the property in the res pective proportions set forth in t he
affidavit; and
4. All taxes and de bts of the estate have been paid or
otherwise provided for or are barred by limitations.
B. A transfer agent of any security shall change the registered
ownership on the books of a co rporation from the decedent to the
successor or successors upon the pres entation of an affidavit as
provided in subsection A of this section.
C. The public official having cognizance over the registered
title of any personal property of the decedent shall change the
registered ownership f rom the decedent to the successor or
successors upon the presentation of a n affidavit as provided in
subsection A of this section.
Req. No. 783 Page 3 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
D. At any time after the date of death of a person who was an
owner of a severed mineral i nterest in real estate, any person who
claims an interest, immediately o r remotely, through the decedent
may file with the county clerk of the county where the mineral
interest is located an affidavit of death and heirship in compliance
with subsection C of Section 67 of Title 16 of the Ok lahoma
Statutes. Pursuant to Sections 82 and 83 of Title 16 of the
Oklahoma Statutes, there shall be a rebuttable presumption that the
facts stated in the recorded affidavit are true as they relate to
the severed mineral interest, the death of the deceden t, and the
relationships, family histo ry and heirship stated therein.
E. Any person who knowingly submits and signs a false affidavit
as provided in this section shall be fined not more than Three
Thousand Dollars ($3,000 .00) or imprisoned for not more th an six (6)
months, or both. Restitution In addition, restitution of the amount
fraudulently attained shall be made to the rightful beneficiary by
the guilty person.
SECTION 2. AMENDATORY 58 O.S. 2021, Section 394, is
amended to read as follows:
Section 394. The person, entity, or state agency paying,
delivering, transferring, or issuing personal property or the
evidence thereof to the suc cessor or successors named in the
affidavit is discharged and re leased to the same extent as if the
person, entity, or state agency dealt with a personal representative
Req. No. 783 Page 4 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
of the decedent. Such person, entity, or state agency is not
required to inquire into the truth of any statement in the
affidavit. If any person , entity, or state agency to whom an
affidavit is delivered refuses to p ay, deliver, transfer, or issue
any personal propert y or evidence thereof, it may be recovered or
its payment, delivery, transfer, or issuance compelled upon proof of
their right in a proceeding brought for the purpose by or on behalf
of the persons entitl ed thereto. Any person to whom payment,
delivery, transfer, or issuance is made is answerable and
accountable therefor to any personal representative of the estate or
to any other person having a superior right.
SECTION 3. This act shall become effective November 1, 2023.
59-1-783 TEK 12/19/2022 4:13:15 PM