Okla. Stat. tit. 6, § 6-1738
This is the official text of Okla. Stat. tit. 6, § 6-1738, 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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Disclosure of conflicts of interest
Official statutory text
A. Any company, proposing to act as a trustee or in any other
fiduciary capacity pursuant to a written agreement to be entered
into with a prospective client after the effective date of this act,
which company has any potential or actual conflict of interest which
may reasonably be expected to have an impact on the independence or
judgment of such trustee or fiduciary, shall deliver a disclosure
statement to the prospective client:
1. Not less than forty-eight (48) hours prior to entering into
any written or oral trust or fiduciary agreement with such client or
prospective client; or
2. At the time of entering into any such agreement if the
client has a right to terminate the agreement without penalty within
three (3) or more business days after entering into the agreement.
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 231
B. The disclosure statement shall contain appropriate
information concerning the actual or potential conflict of interest.
If such trustee or other fiduciary proposes to delegate any
fiduciary function to an affiliate, the nature of the affiliation
and whether the trustee or other fiduciary may directly benefit from
the delegation shall be disclosed in the disclosure statement.
fiduciary capacity pursuant to a written agreement to be entered
into with a prospective client after the effective date of this act,
which company has any potential or actual conflict of interest which
may reasonably be expected to have an impact on the independence or
judgment of such trustee or fiduciary, shall deliver a disclosure
statement to the prospective client:
1. Not less than forty-eight (48) hours prior to entering into
any written or oral trust or fiduciary agreement with such client or
prospective client; or
2. At the time of entering into any such agreement if the
client has a right to terminate the agreement without penalty within
three (3) or more business days after entering into the agreement.
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 231
B. The disclosure statement shall contain appropriate
information concerning the actual or potential conflict of interest.
If such trustee or other fiduciary proposes to delegate any
fiduciary function to an affiliate, the nature of the affiliation
and whether the trustee or other fiduciary may directly benefit from
the delegation shall be disclosed in the disclosure statement.
Status: in_force · Read it on the official government site
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