Oklahoma § 58-581 - Investment of funds
Full text of Oklahoma Oklahoma Statutes § 58-581 — Investment of funds, with citation guidance and answers to common questions.
§ 58-581. Investment of funds
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.
Amended by Laws 1986, c. 106, § 1, emerg. eff. April 5, 1986; Laws
1991, c. 148, § 3, eff. Sept. 1, 1991.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 58-581
What does Oklahoma Statutes § 58-581 cover?
Section 58-581 ("Investment of funds") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 58-581?
A common citation format is "Oklahoma Statutes § 58-581" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 58-581 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.