When it is admitted, by the pleading or oral examination of a party, that he has in his possession or under his control any money or other thing capable of delivery, which, being the subject of litigation, is held by him as trustee for another party, or which belongs or is due to another party, the court may order the same to be deposited in court or delivered to such party, with or without security, subject to the further direction of the court.
§ 1556.Disposition of Property Litigated
Chapter 30: Receivers · Not amended since adoption on record · Last verified August 3, 2026
In one sentenceLets a court order that money or other property a party admits, in pleadings or testimony, to hold as trustee for another party or to owe another party be deposited in court or delivered to that party, with or without security.
Full Text of § 1556
Amendment History
R.L. 1910, § 4984.
Plain-English Summary
Section 1556 covers a narrower situation than a full receivership: a party who has already admitted, whether through the pleadings or under oath, that they're holding money or some other deliverable thing on behalf of someone else, or that they owe it to that person. When that admission is on the record and the property is the subject of the litigation, the court can order it deposited with the court or handed over to the party it belongs to, with or without requiring security, subject to whatever the court decides later.
Frequently Asked Questions
What happens if I admit in court that I'm holding money for the other side?
Once that admission is on the record, through pleadings or testimony, the court can order the money deposited with the court or delivered to the other party, with or without security.
Does the property have to be money?
No. The statute covers money or any other thing capable of delivery.
Can the court require security before releasing the property?
The court has discretion either way -- the statute allows deposit or delivery with or without security.
Source & verification. Section text is reproduced verbatim from
Title 12 of the Oklahoma Statutes, enacted by the Oklahoma Legislature.
Last verified August 3, 2026.
· Official source
Also known as: deposit disputed funds with court oklahoma12 O.S. § 1556trustee admission deposit property statutecourt order deliver litigated property