A. When the whole estate of an adult who has been adjudicated to be incapacitated or partially incapacitated 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 the deposit thereof in a depositary authorized to receive fiduciary funds in the name of a suitable person designated by such court, or, if the assets do not consist of money, authorize the delivery thereof to a suitable person designated by such court. The person receiving such property shall hold and dispose of the same in such manner as such court directs.

B. The person making payment, delivery, transfer or issuance of property or evidence thereof to the person designated by such court under this section is discharged and released to the same extent as if such payment, delivery, transfer or issuance was made to a guardian of the incapacitated or partially incapacitated person, and he 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 in the Oklahoma Guardianship and Conservatorship Act.

Added by Laws 1967, c. 51, § 2, emerg. eff. April 14, 1967. Amended by Laws 1988, c. 329, § 63, eff. Dec. 1, 1988. Renumbered from Title 58, § 898.2 by Laws 1988, c. 329, § 134, eff. Dec. 1, 1988. Amended by Laws 1990, c. 323, § 45, operative July 1, 1990.