Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB54 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	SB54 HFLR Page 1
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	3	+	ENGR. S. B. NO. 54 Page 1 1
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29		-	HOUSE OF REPRESENTATIVES - FLOOR VERSION
30		-
31		-	STATE OF OKLAHOMA
32		-
33		-	1st Session of the 59th Legislature (2023)
34	27
35	28		ENGROSSED SENATE
36	29		BILL NO. 54 By: Howard of the Senate
37	30
38	31		and
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40	33		Caldwell (Chad) of the
41	34		House
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45	38		An Act relating to small estate administratio n;
46	39		amending 58 O.S. 2021, Sections 393 and 394, which
47	40		relate to payment or delivery of property to
48	41		successor by affidavit; authorizing entities to
49	42		release property upon receipt of certain affidavit;
50	43		adding property required to be paid or delivered upon
51	44		receipt of certain affidavit; conforming language;
52	45		and providing an effective date.
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57	50		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
58	51		SECTION 1. AMENDATORY 58 O.S. 2021, Section 393, is
59	52		amended to read as follows:
60	53		Section 393. A. At any time ten (10) or more days after the
61	54		date of death of a decedent, any person or entity indebted to the
62	55		decedent or having possession of tangible personal property or an
63	56		instrument evidencing a debt, obligation, stock, chose in action, or
64	57		stock brand, or accounts held on deposi t of cash, stock, bo nds, or
65	58		other equity belonging to the decedent shall make payment of the
66	59		indebtedness or shall deliver the tangible personal pro perty, or an
	60	+	instrument evidencing a the debt, obligation, stock, chose in
	61	+	action, or stock brand, or proceeds from the account held on deposit
	62	+	to a person claiming to be the successor of the decedent upon being
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68		-	SB54 HFLR Page 2
69		-	BOLD FACE denotes Committee Amendments. 1
	64	+	ENGR. S. B. NO. 54 Page 2 1
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94		-	instrument evidencing a the debt, obligation, stock, chose in
95		-	action, or stock brand, or proceeds from the account held on deposit
96		-	to a person claiming to be the successor of the decedent upon being
97	89		presented an affidavit made by or on behalf of the successor stating
98	90		that:
99	91		1. The fair market value of property loc ated in this state
100	92		owned by the decedent and subject to disposition by will or
101	93		intestate succession at the time of the decedent’s death, less liens
102	94		and encumbrances, does not exceed Fi fty Thousand Dollars
103	95		($50,000.00);
104	96		2. No application or petition for th e appointment of a personal
105	97		representative is pending or has been granted in any jurisdiction;
106	98		3. Each claiming successor is entitled to payment or delivery
107	99		of the property in the res pective proportions set forth in t he
108	100		affidavit; and
109	101		4. All taxes and de bts of the estate have been paid or
110	102		otherwise provided f or or are barred by limitations.
111	103		B. A transfer agent of any security shall change the registered
112	104		ownership on the books of a co rporation from the decedent to the
113	105		successor or successors upon the pres entation of an affidavit as
114	106		provided in subsection A of this section.
115	107		C. The public official having cognizance over the registered
116	108		title of any personal property of the decedent shall change the
117	109		registered ownership f rom the decedent to the successor or
	110	+	successors upon the presentation of a n affidavit as provi ded in
	111	+	subsection A of this section.
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119		-	SB54 HFLR Page 3
120		-	BOLD FACE denotes Committee Amendments. 1
	113	+	ENGR. S. B. NO. 54 Page 3 1
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145		-	successors upon the presentation of a n affidavit as provi ded in
146		-	subsection A of this section.
147	138		D. At any time after the date of death of a person who was an
148	139		owner of a severed mineral i nterest in real estate, any person who
149	140		claims an interest, immediately o r remotely, through the decedent
150	141		may file with the county clerk of the county where the mineral
151	142		interest is located an affidavit of death and heirship in compliance
152	143		with subsection C of Section 67 of Title 16 of the Ok lahoma
153	144		Statutes. Pursuant to Sections 82 and 83 of Title 16 of the
154	145		Oklahoma Statutes, there s hall be a rebuttable presumption that the
155	146		facts stated in the recorded affidavit are true as they relate to
156	147		the severed mineral interest, the death of the deceden t, and the
157	148		relationships, family histo ry and heirship stated therein.
158	149		E. Any person who knowi ngly submits and signs a false affidavit
159	150		as provided in this section shall be fined not more than Three
160	151		Thousand Dollars ($3,000 .00) or imprisoned for not more th an six (6)
161	152		months, or both. Restitution In addition, restitution of the amount
162	153		fraudulently attained shall be made to the rightful beneficiary by
163	154		the guilty person.
164	155		SECTION 2. AMENDATORY 58 O.S. 2021, Section 394, is
165	156		amended to read as follows:
166	157		Section 394. The person or entity paying, delivering,
167	158		transferring, or issuing personal property or the evidence thereo f
168	159		to the successor or successors named in the affidavit is discharged
	160	+	and released to the same extent as if the person or entity dealt
	161	+	with a personal representative of the decedent. Such perso n or
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170		-	SB54 HFLR Page 4
171		-	BOLD FACE denotes Committee Amendments. 1
	163	+	ENGR. S. B. NO. 54 Page 4 1
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196		-	and released to the same extent as if the person or entity dealt
197		-	with a personal representative of the decedent. Such perso n or
198	188		entity is not required to inquire into the truth of any s tatement in
199	189		the affidavit. If any person or entity to whom an affidavit is
200	190		delivered refuses to p ay, deliver, transfer, or issue any personal
201	191		property or evidence ther eof, it may be recovered or its payment,
202	192		delivery, transfer, or issuance compelled upon proof of their right
203	193		in a proceeding brought for the purpose by or on behalf of the
204	194		persons entitled thereto. Any person to whom payment, delivery,
205	195		transfer, or issuance is made is answerable and accountable there for
206	196		to any personal representative of the estate or to any other person
207	197		having a superior right.
208	198		SECTION 3. This act shall become effective November 1, 2023.
	199	+	Passed the Senate the 22nd day of February, 2023.
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210		-	COMMITTEE REPORT BY: COMMITTEE ON JUDICIARY - CIVIL, dated
211		-	04/10/2023 - DO PASS.
	201	+
	202	+
	203	+	Presiding Officer of the Senate
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	206	+	Passed the House of Representative s the ____ day of __________,
	207	+	2023.
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	210	+
	211	+	Presiding Officer of the House
	212	+	of Representatives
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