A. 1. When the whole estate of a minor does not exceed the value of Ten Thousand Dollars ($10,000.00), the court may, in its discretion, without the appointment of a guardian or the giving of bond, authorize and direct:
a.the delivery of the property or any portion thereof to one or more custodians pursuant to the Oklahoma Uniform Transfers to Minors Act or to one or more other custodians designated by the court, or
b.the payment or delivery of the property or any portion thereof to the parent of the minor, or to the person having the care or custody of the minor, or to the minor. The person receiving the property shall pay necessary expenses of the minor and hold, manage, and dispose of the property in the manner directed by the court.
2. When the whole estate of a minor exceeds the value of Ten Thousand Dollars ($10,000.00), the court may, in its discretion, without the appointment of a guardian or the giving of bond, authorize and direct:
a.the delivery of property having a value of up to Ten Thousand Dollars ($10,000.00) to one or more custodians pursuant to the Oklahoma Uniform Transfers to Minors Act or to one or more other custodians designated by the court, or
b.the payment or delivery of up to Ten Thousand Dollars ($10,000.00) of the property or any portion thereof to the parent of the minor, or to the person having the care or custody of the minor, or to the minor. The person receiving the property shall pay necessary expenses of the minor and hold, manage, and dispose of the property in the manner directed by the court.
B. The person making payment, delivery, transfer or issuance of property or evidence thereof to the individual or custodian designated by the court pursuant to this section is discharged and released to the same extent as if payment, delivery, transfer, or issuance was made to a guardian of the minor, and the person is not required to see to the application thereof. A person making payment, delivery, transfer, or issuance of property, or evidence thereof, to a next friend or guardian ad litem may be discharged and released as provided for by this act.
Added by Laws 1967, c. 51, § 1, emerg. eff. April 14, 1967. Amended by Laws 1988, c. 329, § 37, eff. Dec. 1, 1988. Renumbered from § 898.1 of Title 58 by Laws 1988, c. 329, § 134, eff. Dec. 1, 1988. Amended by Laws 1996, c. 293, § 2, eff. Nov. 1, 1996.
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