An Act
ENROLLED SENATE
BILL NO. 1661 By: Boren of the Senate
and
Duel and Schreiber of the
House
An Act relating to distribution of estates; amending
58 O.S. 2021, Section 693, which relates to
disposition of monies to minor; requiring executor or
administrator to make certain application to court;
clarifying release of certain monies; updating
statutory language; and providing an effective date .
SUBJECT: Distribution of estates
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 58 O.S. 2021, Section 693, is
amended to read as follows:
Section 693. A. Whenever a final account and order of
distribution shall direct the payment of monies to a minor, and no
person shall within ninety (90) days there after become the legal and
qualified guardian for the minor, so that the executor or
administrator may be discharged, the court may direct the executor
or administrator shall make an application to the court for
permission to prepare an order directing the county treasurer to
make the deposit of:
1. Specify a bank or financial institution within this state
where the funds in a specified institution and for a will be
deposited; and
2. State the specified term for when the funds will be released
to the legally qualified guardian of the minor, released to the
minor upon his or her eighteenth birthday, or released to the State
ENR. S. B. NO. 1661 Page 2
Treasurer as unclaimed property after the minor reaches twenty -two
(22) years of age.
Upon receipt of the order, the court clerk sha ll make a
temporary deposit in the case, and forward the court ’s order to the
county treasurer for deposit of the funds in a the specified
institution for a the specified term, with the same effect as though
taken from a legally-qualified legally qualified guardian of the
minor; and the treasurer shall hold the monies in trust for the
minor until a guardian shall be appointed and call for the same, or
until the minor shall become of age and demand the same , or until
released to the State Treasurer as unclai med property after the
minor reaches twenty -two (22) years of age ; provided, that all the
monies in the hands of the treasurer at the expiration of the
treasurer’s term of office must be turned over to the successor in
office.
B. Whenever a final account and order of distribution shall
direct the payment of monies to a legatee, heir, creditor, or
claimant, whose address or whereabouts is not known, or who will not
accept and receipt for said monies within ninety (90) days
thereafter, so that the executor or administrator may be discharged,
the court may direct the executor or administrator to prepare an
order directing the county treasurer to make the deposit of funds in
a specified institution and for a specified term. Upon receipt of
the order, the court clerk shall make a temporary deposit in the
case, and forward the court ’s order to the county treasurer for
deposit of the funds in a specified institution for a specified
term, with the same effect as though taken from the person; and the
treasurer shall hold the monies in trust for the person until a
legal or personal representative shall demand and accept the same;
provided, that all such monies in the hands of the treasurer at the
expiration of the treasurer ’s term of office must be turned over to
the successor in office.
C. In the event no person qualified to receive money deposited
with the court clerk makes demand therefor within thirty (30) days
after receipt by the court clerk and the deposit is in excess of One
Hundred Dollars ($100.00), the co urt clerk is authorized and
directed to invest such funds in one or more savings accounts or
certificates of deposit in a bank or savings and loan association
whose deposits are insured by an agency of the federal government.
ENR. S. B. NO. 1661 Page 3
When the person legally entit led thereto makes request upon the
court clerk, the account or fund, together with all accumulations,
shall be paid over to the person legally entitled thereto upon the
court clerk taking a receipt in full for such payment, which receipt
shall be filed in and become a part of the records of the case.
D. Whenever a final account and order of distribution based
thereon shall direct the payment of monies to an heir or legatee who
has died during the pendency of the probate proceedings, and no
person shall within ninety (90) days thereafter become the legal and
qualified personal representative of the deceased heir or legatee,
so that the executor or administrator may be discharged, the court
may make an order directing the executor or administrator to deposit
such money in the hands of the court clerk, taking a receipt
therefor, with the same effect as though taken from a legally-
qualified legally qualified personal representative of the heir or
legatee; and the clerk shall hold such monies in trust until a
personal representative shall demand and accept the same; provided,
that all such monies in the hands of the court clerk at the
expiration of the court clerk ’s term of office must be turned over
to the successor in office.
SECTION 2. This act shall become effective November 1, 2024.
ENR. S. B. NO. 1661 Page 4
Passed the Senate the 1 4th day of March, 2024.
Presiding Officer of the Senate
Passed the House of Representatives the 16th day of April, 2024.
Presiding Officer of the House
of Representatives
OFFICE OF THE GOVERNOR
Received by the Office of the Governor this _______ _____________
day of _________________ __, 20_______, at _______ o'clock _______ M.
By: _________________________________
Approved by the Governor of the State of Oklahoma this _______ __
day of _________________ __, 20_______, at _______ o'clock _______ M.
_________________________________
Governor of the State of Oklahoma
OFFICE OF THE SECRETARY OF STATE
Received by the Office of the Secretary of State this _______ ___
day of __________________, 20 _______, at _______ o'clock _______ M.
By: _________________________________