Okla. Stat. tit. 58, § 58-581
This is the official text of Okla. Stat. tit. 58, § 58-581, 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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Investment of funds
Official statutory text
A. Pending the settlement of any estate on the petition of the
personal representative or any heir, legatee or devisee of the
decedent, the court may order any money in the hands of the personal
representative to be invested for the benefit of the estate, in
United States Government obligations, in the form of securities of,
or other interests in, any open-end or closed-end management type
investment company or investment trust registered under the
Investment Company Act of 1940; provided, that the portfolio of such
investment company or investment trust is limited to United States
Government obligations and to repurchase agreements fully
collateralized by such United States Government obligations, and
provided further, that any such investment company or investment
trust shall take delivery of such collateral, either directly or
through an authorized custodian. Such order can only be made after
such notice of the petition to the heirs, legatees, devisees, or
personal representative as the court may direct.
B. Pending the settlement of any estate, the personal
representative, unless expressly provided to the contrary in the
will of the decedent, may invest estate funds in United States
government obligations directly and in accounts fully insured by the
United States government, without any order of the court.
personal representative or any heir, legatee or devisee of the
decedent, the court may order any money in the hands of the personal
representative to be invested for the benefit of the estate, in
United States Government obligations, in the form of securities of,
or other interests in, any open-end or closed-end management type
investment company or investment trust registered under the
Investment Company Act of 1940; provided, that the portfolio of such
investment company or investment trust is limited to United States
Government obligations and to repurchase agreements fully
collateralized by such United States Government obligations, and
provided further, that any such investment company or investment
trust shall take delivery of such collateral, either directly or
through an authorized custodian. Such order can only be made after
such notice of the petition to the heirs, legatees, devisees, or
personal representative as the court may direct.
B. Pending the settlement of any estate, the personal
representative, unless expressly provided to the contrary in the
will of the decedent, may invest estate funds in United States
government obligations directly and in accounts fully insured by the
United States government, without any order of the court.
Status: in_force · Read it on the official government site
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