Okla. Stat. tit. 6, § 6-1702

As used in this act:

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1. "Account" means the client relationship established with a

trust company involving the transfer of funds or property to the

trust company, including a relationship in which the trust company

acts as trustee, executor, administrator, guardian, custodian,

conservator, bailee, receiver, registrar, or agent, but excluding a

relationship in which the trust company acts solely in an advisory

capacity;

2. "Act as a fiduciary" or "acting as a fiduciary" means to:

a. accept or execute trusts, including to:

(1) act as trustee under a written agreement,

(2) receive money or other property in its capacity

as trustee for investment in real or personal

property,

(3) act as trustee and perform the fiduciary duties

committed or transferred to it by order of a

court of competent jurisdiction,

(4) act as trustee of the estate of a deceased

person, or

(5) act as trustee for a minor or incapacitated

person,

b. administer in any other fiduciary capacity real or

tangible personal property, or

c. act pursuant to order of a court of competent

jurisdiction as executor or administrator of the

estate of a deceased person or as a guardian or

conservator for a minor or incapacitated person;

3. "Administer" with respect to real or tangible personal

property means, as an agent or in another representative capacity,

to possess, purchase, sell, lease or insure, safekeep or otherwise

manage the property;

4. "Affiliate" means a company that directly or indirectly

controls, is controlled by, or is under common control with a trust

institution or other company;

5. "Bank" has the meaning set forth in 12 U.S.C., Section

1813(h). "Bank" shall not include any "foreign bank" as defined in

12 U.S.C., Section 3101(7), except for any such foreign bank

organized under the laws of a territory of the United States, Puerto

Rico, Guam, American Samoa or the Virgin Islands, the deposits of

which are insured by the Federal Deposit Insurance Corporation;

6. "Bank supervisory agency" means:

a. any agency of another state with primary

responsibility for chartering and supervising a trust

institution, and

b. the Office of the Comptroller of the Currency, the

Federal Deposit Insurance Corporation, the Board of

Governors of the Federal Reserve System, the office of

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Thrift Supervision and any successor to these

agencies;

7. "Branch" with respect to a depository institution has the

meaning set forth in paragraph 7 of Section 102 of Title 6 of the

Oklahoma Statutes;

8. "Charter" means a charter, license or other authority issued

by the Commissioner or a bank supervisory agency authorizing a trust

institution to act as a fiduciary in its home state;

9. "Client" means a person to whom a trust institution owes a

duty or obligation under a trust or other account administered by

the trust institution or as an advisor or agent, regardless of

whether the trust institution owes a fiduciary duty to the person.

The term includes the noncontingent beneficiaries of an account;

10. "Commissioner" means the State Banking Commissioner;

11. "Company" includes a bank, trust company, corporation,

limited liability company, partnership, association, business trust,

or another trust;

12. "Department" means the Oklahoma Department of Banking;

13. "Depository institution" means any company chartered to act

as a fiduciary and included for any purpose within any of the

definitions of "insured depository institution" as set forth in 12

U.S.C., Sections 1813(c)(2) and (3);

14. "Fiduciary record" means a matter written, transcribed,

recorded, received or otherwise in the possession or control of a

trust company, whether in physical or electromagnetic form, that is

necessary to preserve information concerning an act or event

relevant to an account or a client of a trust company;
ured depository institution" as set forth in 12

U.S.C., Sections 1813(c)(2) and (3);

14. "Fiduciary record" means a matter written, transcribed,

recorded, received or otherwise in the possession or control of a

trust company, whether in physical or electromagnetic form, that is

necessary to preserve information concerning an act or event

relevant to an account or a client of a trust company;

15. "Foreign bank" means a foreign bank, as defined in Section

1(b)(7) of the International Banking Act of 1978, chartered to act

as a fiduciary in a state other than this state;

16. "Home state" means:

a. with respect to a federally chartered trust

institution and a foreign bank, the state in which

such institution maintains its principal office, and

b. with respect to any other trust institution, the state

which chartered such institution;

17. "Home state regulator" means the bank supervisory agency

with primary responsibility for chartering and supervising an out-

of-state trust institution;

18. "Host state" means a state other than the home state of a

trust institution, or a foreign country in which the trust

institution maintains or seeks to acquire or establish an office;

19. "License" means the authority granted by the Commissioner

pursuant to this act to establish, acquire or maintain a trust

office;

20. "New trust office" means a trust office located in a host

state which:

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a. is originally established by the trust institution as

a trust office, and

b. does not become a trust office of the trust

institution as a result of:

(1) the acquisition of another trust institution or

trust office of another trust institution, or

(2) a merger, consolidation, or conversion involving

any such trust institution or trust office;

21. "Office", with respect to a trust institution, means the

principal office, a trust office or a representative trust office,

but not a branch;

22. "Out-of-state bank" means a bank chartered to act as a

fiduciary in any state or states other than this state;

23. "Out-of-state trust company" means either a trust company

that is not a state trust company or a savings association whose

principal office is not located in this state;

24. "Out-of-state trust institution" means a trust institution

that is not a state trust institution;

25. "Person" means an individual, a company or any other legal

entity;

26. "Principal office", with respect to:

a. a state trust company, means a location registered

with the Commissioner as the state trust company's

home office at which:

(1) the state trust company does business,

(2) the state trust company keeps its corporate books

and a set of its material records, including

material fiduciary records, and
individual, a company or any other legal

entity;

26. "Principal office", with respect to:

a. a state trust company, means a location registered

with the Commissioner as the state trust company's

home office at which:

(1) the state trust company does business,

(2) the state trust company keeps its corporate books

and a set of its material records, including

material fiduciary records, and

(3) at least one executive officer of the state trust

company maintains an office, or

b. a trust institution other than a state trust company,

means its principal place of business in the United

States;

27. "Registration" means the process by which a trust

institution has been authorized by the Commissioner to acquire,

establish or maintain a representative trust office in this state;

28. "Representative trust office" means an office at which a

trust institution has been authorized by the Commissioner to engage

in a trust business other than acting as a fiduciary;

29. "Savings association" means a depository institution that

is neither a bank nor a foreign bank;

30. "State" means any state of the United States, the District

of Columbia, any territory of the United States, Puerto Rico, Guam,

American Samoa, the Trust Territory of the Pacific Islands, the

Virgin Islands, and the Northern Mariana Islands;

31. "State bank" means:

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a. a bank chartered to act as a fiduciary by this state,

or

b. a foreign bank, as defined in Section 1(b)(7) of the

International Banking Act of 1978, chartered to act as

a fiduciary in this state;

32. "State trust company" means a corporation or a limited

liability trust company organized or reorganized under this act,

including a trust company organized under the laws of this state

before the effective date of this act;

33. "State trust institution" means a trust institution having

its principal office in this state;

34. "Trust business" means the holding out by a person to the

public by advertising, solicitation or other means that the person

is available to perform any service of a fiduciary in this or

another state, including but not limited to:

a. acting as a fiduciary, or

b. to the extent not acting as a fiduciary, any of the

following:

(1) receiving for safekeeping personal property of

every description,

(2) acting as assignee, bailee, conservator,

custodian, escrow agent, registrar, receiver or

transfer agent, or

(3) acting as financial advisor, investment advisor

or manager, agent or attorney-in-fact in any

agreed upon capacity;

35. "Trust company" means a state trust company or any other

company chartered to act as a fiduciary that is neither a depository

institution nor a foreign bank;

36. "Trust institution" means a depository institution, foreign

bank, state bank or trust company;

37. "Trust office" means an office, other than the principal

office, at which a trust institution is licensed by the Commissioner

to act as a fiduciary; and

38. "Unauthorized trust activity" means:

a. a company, other than one identified in subsection A

of Section 5 of this act, acting as a fiduciary within

this state,

b. a company engaging in a trust business in this state

at any office of such company that is not its

principal office, if it is a state trust institution,

or that is not a trust office or a representative

trust office of such company, or

c. an out-of-state trust institution engaging in a trust

business in this state at any time an order issued by

the Commissioner pursuant to paragraph 2 of Section 24

of this act is in effect.

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These definitions shall be liberally construed to accomplish the

purposes of the Multistate Trust Institutions Act. The Department

by rule may adopt other definitions to accomplish the purposes of

this act.