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KANSAS STATUTES AND CODES
59-3055. Small estate; investment; disposition.
59-3055
59-3055. Small estate; investment;disposition.(a) Anycourt having either control over or possession ofany amount of money not exceeding $100,000, the right to which is vested in aminor, shall have thediscretion to authorize, without theappointment of a conservator or the giving of bond, and notwithstanding theauthority of a natural guardian as provided for inK.S.A. 59-3053,and amendmentsthereto, thedeposit of the money in a savings account of a bank, credit union, savingsand loan associationor any other investment account that the court may authorize,payable either to a conservator, if one shall be appointed for theminor, or to the minorupon attaining the age of 18 years.
(b) Any court having either control over or possession of any amount of moneynot exceeding $10,000, the right to which is vested in a minor, shall have thediscretion to order the payment of the money to any person, including thenatural guardian of the minor, or the minor. If the person is the conservatorfor the minor, the court may waive or recommend the waiver of therequirement of a bond. If the person is anyone other than the minor, the courtshall order thatperson to hold in trustand manage such person's estate for such person's benefit.
(c) Any court having either control over orpossession of any amount of moneynot exceeding $10,000, the right to which is vested in aperson for whom a guardian has been appointed, shall havethe discretion to authorize,without the appointment of a conservator or the giving of bond, thedeposit of the money in a savingsaccount of a bank, credit union or savings and loan association, payable to theguardian for thebenefit of the ward if authorized pursuant to subsection (e)(8) ofK.S.A. 59-3075,andamendments thereto, payable to a conservator, if one shallbe appointed for the person, orpayable to the ward on restoration to capacity.
History: L. 2002, ch. 114, § 6; July 1.