Oklahoma § 58-1208 Persons holding property of or owing debt to minor -

Oklahoma Statutes

§ 58-1208 — Persons holding property of or owing debt to minor -

Oklahoma § 58-1208

Title 58Probate Procedure

This text of Oklahoma § 58-1208 (Persons holding property of or owing debt to minor -) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 58, § 58-1208 (2026).

Text

Irrevocable transfers to custodian.

A.Subject to the provisions of subsections B and C of this section, a person not subject to the provisions of Sections 6 or 7 of this act who holds property of or owes a liquidated debt to a minor not having a guardian may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to the provisions of Section 10 of this act.

B.If a person having the right to do so pursuant to the provisions of Section 4 of this act has nominated a custodian according to the provisions of Section 4 of this act to receive the custodial property, the transfer must be made to that person.

C.If no custodian has been nominated pursuant to the provisions of Section 4 of this act, or all persons nominated as custodian die before the transfer or are unab

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Irrevocable transfers to custodian. A. Subject to the provisions of subsections B and C of this section, a person not subject to the provisions of Sections 6 or 7 of this act who holds property of or owes a liquidated debt to a minor not having a guardian may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to the provisions of Section 10 of this act. B. If a person having the right to do so pursuant to the provisions of Section 4 of this act has nominated a custodian according to the provisions of Section 4 of this act to receive the custodial property, the transfer must be made to that person. C. If no custodian has been nominated pursuant to the provisions of Section 4 of this act, or all persons nominated as custodian die before the transfer or are unable, decline, or are ineligible to serve, a transfer pursuant to the provisions of this section may be made to an adult member of the minor's family or to a trust company, unless the property exceeds Ten Thousand Dollars ($10,000.00) in value.