Okla. Stat. tit. 58, § 58-3034
This is the official text of Okla. Stat. tit. 58, § 58-3034, part of Oklahoma’s Stat. tit. 58, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 58,." Browse the sections below, each linked to its official government source.
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Estates, trusts, and other beneficial interests
Official statutory text
A. In this section, "estate, trust or other beneficial
interest" means a trust, probate estate, guardianship,
conservatorship, escrow or custodianship or a fund from which the
principal is, may become, or claims to be, entitled to a share or
payment.
B. Unless the power of attorney otherwise provides, language in
a power of attorney granting general authority with respect to
estates, trusts and other beneficial interests authorizes the agent
to:
Oklahoma Statutes - Title 58. Probate Procedure Page 181
1. Accept, receive, receipt for, sell, assign, pledge or
exchange a share in or payment from an estate, trust or other
beneficial interest;
2. Demand or obtain money or another thing of value to which
the principal is, may become, or claims to be, entitled by reason of
an estate, trust or other beneficial interest, by litigation or
otherwise;
3. Exercise for the benefit of the principal a presently
exercisable general power of appointment held by the principal;
4. Initiate, participate in or submit to alternative dispute
resolution, settle, oppose, or propose or accept a compromise with
respect to litigation to ascertain the meaning, validity or effect
of a deed, will, declaration of trust or other instrument or
transaction affecting the interest of the principal;
5. Initiate, participate in or submit to alternative dispute
resolution, settle, oppose, or propose or accept a compromise with
respect to litigation to remove, substitute or surcharge a
fiduciary;
6. Conserve, invest, disburse or use anything received for an
authorized purpose;
7. Transfer an interest of the principal in real property,
stocks and bonds, accounts with financial institutions or securities
intermediaries, insurance, annuities and other property to the
trustee of a revocable trust created by the principal as settlor;
and
8. Reject, renounce, disclaim, release or consent to a
reduction in or modification of a share in or payment from an
estate, trust or other beneficial interest.
interest" means a trust, probate estate, guardianship,
conservatorship, escrow or custodianship or a fund from which the
principal is, may become, or claims to be, entitled to a share or
payment.
B. Unless the power of attorney otherwise provides, language in
a power of attorney granting general authority with respect to
estates, trusts and other beneficial interests authorizes the agent
to:
Oklahoma Statutes - Title 58. Probate Procedure Page 181
1. Accept, receive, receipt for, sell, assign, pledge or
exchange a share in or payment from an estate, trust or other
beneficial interest;
2. Demand or obtain money or another thing of value to which
the principal is, may become, or claims to be, entitled by reason of
an estate, trust or other beneficial interest, by litigation or
otherwise;
3. Exercise for the benefit of the principal a presently
exercisable general power of appointment held by the principal;
4. Initiate, participate in or submit to alternative dispute
resolution, settle, oppose, or propose or accept a compromise with
respect to litigation to ascertain the meaning, validity or effect
of a deed, will, declaration of trust or other instrument or
transaction affecting the interest of the principal;
5. Initiate, participate in or submit to alternative dispute
resolution, settle, oppose, or propose or accept a compromise with
respect to litigation to remove, substitute or surcharge a
fiduciary;
6. Conserve, invest, disburse or use anything received for an
authorized purpose;
7. Transfer an interest of the principal in real property,
stocks and bonds, accounts with financial institutions or securities
intermediaries, insurance, annuities and other property to the
trustee of a revocable trust created by the principal as settlor;
and
8. Reject, renounce, disclaim, release or consent to a
reduction in or modification of a share in or payment from an
estate, trust or other beneficial interest.
Status: in_force · Read it on the official government site
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