Clerks and masters of the chancery courts, having in their hands funds belonging to minors or incompetents who have no regular guardian or other custodian or other person authorized by law to demand the funds, may invest the funds as provided in § 8-21-401(i)(8) or, if applicable, § 8-21-409(f)(1) without prior specific order of the court if, in their best judgment, it appears that the funds will be idle and payment of funds will not be demanded for a period of thirty (30) days from and after receipt of funds.