§ 1063. Supervised power of attorney
Oklahoma Statutes AnnotatedTitle 58. Probate Procedure
58 Okl.St.Ann. § 1063
§ 1063. Supervised power of attorney
Before approving any such nomination, the court shall cause notice of such petition to be:
Such notice shall be published or mailed as required, at least ten (10) days prior to the date set by the court for hearing on the petition. After hearing and examination upon such petition, the district court shall approve of such supervised power of attorney if it appears to the court that such approval would be in the best interest of the petitioner.
E. Upon the appointment of a holder of a supervised power of attorney and approval thereof by the court, the person shall not thereafter have the power to enter into any contract creating an obligation against his estate except for necessities. All acts done by the holder of a supervised power of attorney shall have the same effect and inure to the benefit of and bind such person and his heirs-at-law. A supervised power of attorney shall not be affected by the subsequent disability or incapacity of the person executing it.
F. The holder of a supervised power of attorney shall be required to make at least an annual accounting to the court and to the person of any receipts and disbursements received or expenditures made by the holder of the supervised power of attorney on behalf of such person during the previous year. The court shall set the accounting for hearing and cause notice to be mailed to the person and to each of his heirs-at-law at such heir's address as last known to the holder of the power of attorney at least ten (10) days prior to the hearing. At the hearing the court shall examine such account and approve the same if all receipts appear to be accounted for and if all expenditures appear to be proper and in the best interests of the ward.
I. A supervised power of attorney may be discharged by the court upon the application of the person, any of his heirs-at-law, or the holder of the supervised power of attorney or otherwise upon such notice to the person, his heirs-at-law, or the holder of the supervised power of attorney not joining in the petition as the court may determine reasonable and proper, when it appears that the supervised power of attorney is no longer necessary. Upon the termination of a supervised power of attorney, a holder of a supervised power of attorney shall account to the court and shall turn over all assets in his possession belonging to the person either to such person or to his personal representative as the court shall direct.
J. A holder of a supervised power of attorney shall keep safe the estate of the person and shall perform diligently and in good faith, as a prudent person would manage his own property, not with regard to speculation but with regard to conservation and growth, the specific duties and powers granted by the supervised power of attorney.
Credits
Laws 1989, c. 270, § 4, eff. Nov. 1, 1989.
58 Okl. St. Ann. § 1063, OK ST T. 58 § 1063
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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