HB 2080
Banks and trust companies; share or deposit accounts; payable on death; effective date.
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- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill changes Oklahoma law regarding bank and trust company accounts to allow for ‘payable on death’ (POD) designations for share and deposit accounts. Currently, these accounts typically pass through probate. This legislation would allow account holders to designate a beneficiary who would receive the funds directly upon the account holder’s death, bypassing the probate process. The bill also establishes an effective date for these changes.
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