{"data":{"id":"us-ok/okla.-stat.-tit.-30-30-4-709","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 30, § 30-4-709","heading":"Investment of monies belonging to estates - Purchase of","body":"homesteads for incapacitated or partially incapacitated persons.\n\nA. Except as provided in subsection B of this section, the\n\nmoney belonging to estates of minors and incapacitated or partially\n\nincapacitated persons, subject to the jurisdiction of the court, can\n\nonly be invested in one or more of the following:\n\n1. Real estate and first mortgages upon real property which do\n\nnot exceed fifty percent (50%) of the actual value of the property;\n\n2. United States bonds, or any other type of security\n\ncertificate, or evidence of indebtedness which is guaranteed by the\n\nUnited States government, or any authorized agency thereof;\n\n3. State bonds;\n\n4. Bonds of municipal corporations;\n\n5. Annuities covered by the Oklahoma Life and Health Insurance\n\nGuaranty Association, which do not exceed Three Hundred Thousand\n\nDollars ($300,000.00), individually; or\n\n6. Accounts in savings and loan associations and credit unions\n\nlocated in this state, and all types of interest-bearing time\n\ndeposits and certificates of banks, savings and loan associations,\n\nand credit unions located in this state, not to exceed the amount\n\ninsured by the United States government.\n\nB. When an individual guardian is investing the money belonging\n\nto estates of minors or incapacitated or partially incapacitated\n\npersons, subsection A of this section shall not apply, provided that\n\nthe guardian has contracted with a person who is a registered\n\ninvestment advisor representative pursuant to the Oklahoma Uniform\n\nSecurities Act of 2004 and a certified Financial Planner\n\ncredentialed by the Certified Financial Planner Board of Standards,\n\nand provided further that the court authorizes such investments.\n\nC. Upon application to the court by the guardian of the estate\n\nof the incapacitated or partially incapacitated person, showing to\n\nthe satisfaction of the court:\n\n1. That the incapacitated or partially incapacitated person is\n\nvitally in need of a home;\n\n2. That the incapacitated or partially incapacitated person\n\nowns no suitable homestead;\n\n3. That the incapacitated or partially incapacitated person has\n\nsufficient monthly, semi-annual, or annual fixed income to retire an\n\nincurred indebtedness for the remaining unpaid cost of a homestead;\n\nand\n\n4. That it would be in the best interest of the incapacitated\n\nor partially incapacitated person that a suitable homestead be\n\npurchased on that basis.\n\nThe court may enter an order authorizing the guardian to execute and\n\ndeliver a note and mortgage, under such tenor and terms as the court\n\nwill approve, for the purpose of securing payment of any remaining\n\ncost of such a homestead. Any note and mortgage given by a guardian\n\nunder the provisions of this section shall, if authorized by the\n\ncourt as provided for in this section, be endorsed \"approved\" by the\n\njudge. When so authorized and endorsed, the note and mortgage shall\n\nbe a binding obligation against the ward and the estate of the ward\n\nuntil fully paid. The ward, if subsequently restored to competency\n\nto transact business, shall be held firmly bound by the note and\n\nmortgage in the same manner and to the same extent as though the\n\nward had given the homestead purchase-money note and mortgage.\n\nD. When an individual guardian enters into an agreement with a\n\nbank or trust company, or when the guardian is a bank or trust\n\ncompany qualified and acting under the supervision of the Banking\n\nBoard, or of the Comptroller of the Currency of the United States of\n\nAmerica, the guardian may, upon application to the court, invest\n\nfunds coming into its hands as guardian in any property, real,\n\npersonal or mixed, in which an individual may invest the\n\nindividual's own funds pursuant to the provisions of the Oklahoma\n\nUniform Prudent Investor Act, unless otherwise provided by law.","path":["OK Code","Title 30"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os30.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"6ae7cbe93de6d5db779cf9452f26cfc47cb4193e11c4c18d3595a04fa18156ea","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-30-30-4-708","next":"us-ok/okla.-stat.-tit.-30-30-4-710"},"notice":"GroundRules: Original legal text. Not legal advice."}