Okla. Stat. tit. 58, § 58-385.3
This is the official text of Okla. Stat. tit. 58, § 58-385.3, part of Oklahoma’s Stat. tit. 58, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 58,." Browse the sections below, each linked to its official government source.
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Order for guardian to borrow money, execute mortgage,
Official statutory text
etc. - Additional bond - Approval.
Upon such hearing, if the court is satisfied that it is for the
best interest of the estate and to the owners of such real estate he
may make an order authorizing the guardian to borrow money, make,
execute and deliver a note or notes therefor and to make, execute
and deliver a real estate mortgage securing the same, in such
amount, at such rate of interest and upon such terms and conditions
as the court may prescribe and may, if he deems it advisable require
an additional bond as in the case of the sale of real estate. After
the order of the court authorizing the same is made, the guardian
may make and execute the note or notes and mortgage and shall then
present the same to the district court or judge thereof, who shall
examine the same, and if they appear to be in conformity to law and
the order of the court, the judge of the district court shall
endorse his approval on the face of the mortgage. Thereafter the
guardian may proceed to close the loan by receiving the funds so
borrowed and by delivering the note or notes and mortgage. All such
notes and mortgages shall be valid and binding obligations against
the estate and against the real estate so mortgaged in accordance
with the terms and conditions of such mortgage.
Upon such hearing, if the court is satisfied that it is for the
best interest of the estate and to the owners of such real estate he
may make an order authorizing the guardian to borrow money, make,
execute and deliver a note or notes therefor and to make, execute
and deliver a real estate mortgage securing the same, in such
amount, at such rate of interest and upon such terms and conditions
as the court may prescribe and may, if he deems it advisable require
an additional bond as in the case of the sale of real estate. After
the order of the court authorizing the same is made, the guardian
may make and execute the note or notes and mortgage and shall then
present the same to the district court or judge thereof, who shall
examine the same, and if they appear to be in conformity to law and
the order of the court, the judge of the district court shall
endorse his approval on the face of the mortgage. Thereafter the
guardian may proceed to close the loan by receiving the funds so
borrowed and by delivering the note or notes and mortgage. All such
notes and mortgages shall be valid and binding obligations against
the estate and against the real estate so mortgaged in accordance
with the terms and conditions of such mortgage.
Status: in_force · Read it on the official government site
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