The perpetual care fund trustee may loan moneys received by him under the direction and with the approval of the court, but only as such loans may be secured by first mortgages upon Oklahoma real estate. No loan shall be made or approved unless it be made to appear to the court that the real estate is ample security for the loan applied for, and that the title to the real estate is good of record and in fact in the party making application for the loan.
Laws 1977, c. 256, § 26-204, eff. July 1, 1978.
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