Okla. Stat. tit. 6, § 6-1735
This is the official text of Okla. Stat. tit. 6, § 6-1735, part of Oklahoma’s Stat. tit. 6, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 6,." Browse the sections below, each linked to its official government source.
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Delegation of fiduciary functions
Official statutory text
A. Any person acting as a trustee or as any other fiduciary
under the laws of this state may delegate any investment, management
or administrative function if such person exercises reasonable care,
judgment and caution in:
1. Selecting the delegate, taking into account the delegate's
financial standing and reputation;
2. Establishing the scope and other terms of any delegation;
and
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 230
3. Reviewing periodically the delegate's actions in order to
monitor overall performance and compliance with the scope and other
terms of the delegation.
B. Notwithstanding any delegation permitted by subsection A of
this section, any person acting as a trustee or in any other
fiduciary capacity under the laws of this state shall retain
responsibility for the due performance of any delegated fiduciary
function.
under the laws of this state may delegate any investment, management
or administrative function if such person exercises reasonable care,
judgment and caution in:
1. Selecting the delegate, taking into account the delegate's
financial standing and reputation;
2. Establishing the scope and other terms of any delegation;
and
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 230
3. Reviewing periodically the delegate's actions in order to
monitor overall performance and compliance with the scope and other
terms of the delegation.
B. Notwithstanding any delegation permitted by subsection A of
this section, any person acting as a trustee or in any other
fiduciary capacity under the laws of this state shall retain
responsibility for the due performance of any delegated fiduciary
function.
Status: in_force · Read it on the official government site
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