[Previous] [Next]

§58-581.


§58-581.
   
   A. Pending the settlement of any estate on the petition of the
   personal representative or any heir, legatee or devisee of the
   decedent, the court may order any money in the hands of the personal
   representative to be invested for the benefit of the estate, in United
   States Government obligations, in the form of securities of, or other
   interests in, any open-end or closed-end management type investment
   company or investment trust registered under the Investment Company
   Act of 1940; provided, that the portfolio of such investment company
   or investment trust is limited to United States Government obligations
   and to repurchase agreements fully collateralized by such United
   States Government obligations, and provided further, that any such
   investment company or investment trust shall take delivery of such
   collateral, either directly or through an authorized custodian. Such
   order can only be made after such notice of the petition to the heirs,
   legatees, devisees, or personal representative as the court may
   direct.
   
   B. Pending the settlement of any estate, the personal representative,
   unless expressly provided to the contrary in the will of the decedent,
   may invest estate funds in United States government obligations
   directly and in accounts fully insured by the United States
   government, without any order of the court.
   

[Previous] [Next]