§ 969. Shares of infant, incompetent or conservatee. Where a party entitled to receive a portion of the proceeds of sale is an infant, incompetent or conservatee, such portion may be disposed of as follows:

1. The court may direct it to be invested in permanent securities in the name and for the benefit of the infant, incompetent or conservatee, or it may direct it to be paid over to the general guardian of the infant, committee of the incompetent or conservator of the conservatee, when the guardian, committee conservator shall have executed an undertaking to such infant, incompetent or conservatee; or,

2. Where a general guardian, committee or conservator has been appointed, upon proof that it will be for the best interest and advantage of the estate of such infant, incompetent or conservatee person, the court may authorize and direct such guardian, committee or conservator, in the name of such infant, incompetent person or conservatee, to make application for an award of a sum in gross as provided in section 968; or,

3. If any of the moneys arising from the proceeds of such sale shall have been paid to the county treasurer, and on due proof that such money has remained uninvested in permanent securities for the space of three months, the court may direct the same to be paid to the general guardian, committee or conservator of such infant, incompetent or conservatee upon his giving an undertaking for the faithful execution of his trust; where said sum in hands of county treasurer does not exceed the sum of one thousand dollars the court may direct the same to be paid in accordance with subdivision five of this section; or,

4. In the case of an infant, incompetent or conservatee residing without the state and having in the state or country where he or she resides a general guardian, committee or conservator, or person duly appointed under the laws of such state or country to the control, and entitled by the laws of such state or country to the custody, of the money of such infant, incompetent or conservatee, the court, upon satisfactory proof of such facts and of the sufficiency of the undertaking given by such general guardian, committee or conservator or person in such state or country by the certificate of a judge of a court of record of such state or country, or otherwise, may direct that the portion of such infant, incompetent or conservatee arising upon such sale shall be paid over to such general guardian, committee or conservator or person; or,

5. If the portion of the proceeds arising upon such sale which belongs to an infant, incompetent or conservatee residing within or without the state does not exceed one thousand dollars, the court may direct that the same may be paid to his father, or to his mother or to some competent person with whom the infant, incompetent or conservatee resides, or who has some interest in his welfare, for the use and benefit of such infant, incompetent or conservatee.