Okla. Stat. tit. 6, § 6-3010

This is the official text of Okla. Stat. tit. 6, § 6-3010, 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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Definition - Form - Fees - Rules

Official statutory text

A. As used in this section, "statutory support trust" means a

model trust to be used by a bank or trust company for the purpose of

Oklahoma Statutes - Title 6. Banks and Trust Companies Page 288

receiving money donated by any person as a public service to assist

the beneficiary of the trust or account in the payment of medical,

financial, educational, humanitarian or other similar needs.

B. A statutory support trust may be substantially in the

following form:

DECLARATION OF TRUST

CREATING THE

(NAME OF BENEFICIARY) SUPPORT TRUST

Whereas, (name of beneficiary) of ___________________, Oklahoma,

hereinafter referred to as "Primary Beneficiary", is in need of

financial assistance, as a result of the following circumstances,

to-wit: ________

hereinafter referred to as the "Condition of Need"; and

Whereas, (name of Grantor), of _________, Oklahoma, hereinafter

referred to as "Grantor", is desirous of providing assistance to

Primary Beneficiary, primarily to help with expenses incurred in

connection with the Condition of Need, but also to provide generally

for the welfare and security of Primary Beneficiary; and

Whereas, Grantor is the owner of certain property which Grantor

desires at this time to set apart for the use and benefit of Primary

Beneficiary and for the future use and benefit of the other

beneficiaries provided for herein;

Now, therefore, Grantor does irrevocably convey, assign,

transfer and deliver to the Trustee hereinafter named the property

described in Schedule A attached hereto to have and to hold such

property and any other property which the Trustee may hereafter at

any time hold or acquire hereunder (all of which property is

hereinafter referred to collectively as the "Trust estate") in trust

nevertheless, for the following uses and purposes and subject to the

terms and conditions hereinafter set forth.

SECTION I

Appointment of Trustee

1. Grantor hereby appoints (name of trustee), of ____________,

Oklahoma, as Trustee of this Trust.

2. The Trustee may, by written instrument, signed and

acknowledged, resign from office without leave of court at any time

and for any reason, and appoint a successor Trustee to act in the

place and stead of the Trustee. Should the Trustee fail to appoint

a successor Trustee, Grantor may, by appropriate instrument in

writing, appoint a successor Trustee. In no event may Grantor be

appointed to act as Trustee.

3. Any successor Trustee shall, upon the acceptance of the

office by written instrument signed and acknowledged by the Trustee,

have the same powers, rights and duties, and the same title to the

Trust estate as did the Trustee's predecessor as Trustee.

4. No Trustee shall be required to furnish any bond or surety.

No Trustee shall be responsible or liable for the acts or omissions

Oklahoma Statutes - Title 6. Banks and Trust Companies Page 289

of any predecessor Trustee or of a custodian, agent, depositary or

counsel selected with reasonable care.

5. As used herein, the term "Trustee" shall include not only

the original Trustee but also any successor Trustee.

6. In the case of any Trustee which is a bank, trust company or

association authorized to exercise general trust powers, references

to such entity shall include its successor or successors or any

bank, trust company or association with which it or its successors

may become merged or consolidated.

7. The Trustee shall have the power and authority with respect

to the Trust estate, shall be charged with the duties and

obligations, and shall be subject to the limitations and

restrictions hereinafter set forth.

SECTION II

General Provisions Relating to Trust

1. With respect to the management of the Trust, the character

of and the manner of making investments and reinvestments of Trust

funds, the sale, conveyance or transfer of Trust property and the

powers and duties of the Trustee, the provisions of the Oklahoma
ions, and shall be subject to the limitations and

restrictions hereinafter set forth.

SECTION II

General Provisions Relating to Trust

1. With respect to the management of the Trust, the character

of and the manner of making investments and reinvestments of Trust

funds, the sale, conveyance or transfer of Trust property and the

powers and duties of the Trustee, the provisions of the Oklahoma

Trust Act now in force and the provisions of investments by

Trustees, Sections 161 through 163 of Title 60 of the Oklahoma

Statutes, shall govern except as they may be modified or limited by

the provisions of this Trust. Repeal or amendment of the statutes

shall not change the powers and duties of the Trustee hereunder, but

the provisions of such statutes existing on the date this Trust is

executed, except as herein modified or limited, shall continue in

effect with respect to all property which may come into the hands of

the Trustee, whether such property has a situs within or without the

State of Oklahoma.

2. Except as provided in paragraph 2 of Section IV hereof, each

beneficiary is hereby prohibited from anticipating, encumbering,

assigning or in any other manner disposing of the interest of the

beneficiary in either principal or income and is without power so to

do; nor shall such interest be subject to the liabilities or

obligations of the beneficiary, nor to attachment, execution or

other legal process, bankruptcy proceedings or claims of creditors

or others.

3. The Trustee shall keep books of account showing all

transactions relating to the Trust estate, and shall also in each

year furnish to each beneficiary currently receiving distributions

therefrom, or to any attorney-in-fact acting on the behalf of the

beneficiary, or to the guardian of the beneficiary if a guardian has

been appointed, a statement showing how the Trust estate is invested

and all transactions relating thereto subsequent to the last

preceding account rendered.

4. Whenever distribution of income or principal is to be made

under the terms of this Trust to a minor or other person under a

Oklahoma Statutes - Title 6. Banks and Trust Companies Page 290

legal disability of any nature, the Trustee, in the Trustee's sole

discretion, may make such distributions to others for the benefit of

such minor or such legally disabled person without the intervention

of a guardian.

5. The powers, duties and responsibilities herein set out shall

not be deemed to exclude other implied powers, duties or

responsibilities not inconsistent therewith.

6. The compensation of the Trustee for services rendered to the

Trust shall be reasonable and commensurate with the compensation for

like services ordinarily and customarily paid in the community where

the service is rendered.

7. The Trustee shall have all of the foregoing powers and

duties during the term of this Trust and thereafter until final

distribution of the Trust.

SECTION III

Additions to Trust Estate

Grantor or other persons from time to time by inter vivos or

testamentary transfers may add property to the Trust estate. The

receipt of the Trustee for such property shall constitute acceptance

thereof by the Trustee.

SECTION IV

Provisions Relating to

Distributions of Income and Principal

1. During the term of this Trust the Trustee shall pay to or

for the benefit of Primary Beneficiary so much or all of the income

and principal of the Trust as the Trustee determines, in the

Trustee's sole discretion, to be necessary or advisable for the

health, maintenance, support, education and welfare of Primary

Beneficiary, after giving primary consideration to Primary

Beneficiary's Condition of Need and after consulting with Primary

Beneficiary and any one or more of the following members of Primary

Beneficiary's family or community, to-wit:

___________________; ______________________; and

______________________. The Trustee shall have no liability or
nce, support, education and welfare of Primary

Beneficiary, after giving primary consideration to Primary

Beneficiary's Condition of Need and after consulting with Primary

Beneficiary and any one or more of the following members of Primary

Beneficiary's family or community, to-wit:

___________________; ______________________; and

______________________. The Trustee shall have no liability or

responsibility, either to Grantor or any other donor to this Trust,

or to Primary Beneficiary, for relying on information provided by

Primary Beneficiary or any such consultants, nor shall the Trustee

be under any duty to see to the proper application of any funds

distributed to, or pursuant to any instructions of, Primary

Beneficiary or any of such consultants.

2. Upon the death of Primary Beneficiary, or the determination

by the Trustee in the Trustee's sole discretion that Primary

Beneficiary's Condition of Need no longer exists, whichever first

occurs, this Trust shall terminate and all remaining assets of the

Trust shall be distributed as follows:

Oklahoma Statutes - Title 6. Banks and Trust Companies Page 291

[ ] To Primary Beneficiary or, if the Primary

Beneficiary is then deceased, to the estate of the Primary

Beneficiary;

[or]

[ ] To such charitable organization or organizations,

in such amounts and for such charitable purposes, as shall

be selected and determined by Primary Beneficiary by

appropriate instrument in writing, or in the absence of

such selection and determination, by the Trustee;

3. Whenever any distribution under subsection 2 of this Section

IV is required to be made to a beneficiary under the age of twenty-

one years, the interest so required to be distributed shall be

indefeasibly vested in the beneficiary, but the Trustee may, in the

Trustee's sole discretion, retain the assets so distributable until

the beneficiary attains age twenty-one or dies, whichever first

occurs, and the Trustee may pay the income and principal to the

beneficiary in such amounts and from time to time as the Trustee may

determine. Upon the beneficiary's attaining the age of twenty-one,

the Trustee shall deliver the then remaining principal and

undistributed income to the beneficiary. If the beneficiary dies

prior to attaining such age, then, on the date of the death of the

beneficiary, the Trustee shall deliver the then remaining principal

and undistributed income to the estate of the beneficiary. In the

alternative, the Trustee may, in the Trustee's sole discretion,

transfer such assets to a Custodian for the beneficiary under the

Oklahoma Uniform Transfers to Minors Act and specify that the

Custodian shall transfer the property to the beneficiary when the

beneficiary reaches the age of twenty-one years.

4. As used herein the term "charitable purposes" shall be

limited to and shall include religious, charitable, scientific,

literary, educational or exclusively public purposes within the

meaning of those terms as used in Section 501(c)(3) and Section

170(c)(1) of the Internal Revenue Code, but only such purposes as

also constitute public charitable purposes under the law of the

State of Oklahoma.

SECTION V

Miscellaneous Provisions

1. Grantor declares that Grantor has been fully advised as to

the legal effects of the execution of this instrument and informed

as to the character and amount of the property hereby conveyed and

further that Grantor has given consideration to the question of

whether the Trust herein created shall be revocable or irrevocable,

and Grantor now declares that it shall be wholly and completely

irrevocable and that Grantor shall not have any right, capacity or

power at any time to revoke, terminate, alter or amend any of the

provisions hereof.

Oklahoma Statutes - Title 6. Banks and Trust Companies Page 292

2. This Declaration of Trust and all of its provisions shall be

construed and administered in accordance with the laws of the State

of Oklahoma.
t shall be wholly and completely

irrevocable and that Grantor shall not have any right, capacity or

power at any time to revoke, terminate, alter or amend any of the

provisions hereof.

Oklahoma Statutes - Title 6. Banks and Trust Companies Page 292

2. This Declaration of Trust and all of its provisions shall be

construed and administered in accordance with the laws of the State

of Oklahoma.

3. This Declaration of Trust shall be binding upon the

executors, administrators and assigns of Grantor, and the

beneficiaries named herein and upon the successors to the Trustee.

4. This Declaration of Trust shall be known as the "[name of

beneficiary] SUPPORT TRUST."

IN WITNESS WHEREOF, Grantor has hereunto subscribed Grantor's

name this ____ day of _____, 199_.

_______________________________________

"Grantor"

STATE OF OKLAHOMA )

) SS.

COUNTY OF ________ )

BEFORE ME, the undersigned, a Notary Public in and for said

County and State, on this ____ day of ________, 199_, personally

appeared [name of Grantor], to me known to be the identical person

who executed the within and foregoing instrument, and acknowledged

to me that he or she executed the same as his or her free and

voluntary act and deed for the uses and purposes therein set forth.

WITNESS my hand and official seal the day and year last above

written.

__________________________________________

Notary Public

My commission expires:

______________________

[SEAL]

ACCEPTANCE OF TRUSTEE

[name of trustee], the Trustee named in the above and foregoing

Declaration of Trust, hereby accepts the same, acknowledges receipt

of the property described in Schedule A to said Declaration of

Trust, and agrees to act under the terms and provisions thereof.

DATED this ____ day of ________, 199_.

__________________________________________

SCHEDULE A

TO

DECLARATION OF TRUST

CREATING THE [NAME OF BENEFICIARY] SUPPORT TRUST

$_______Cash

C. A bank or trust company may charge a reasonable and

customary fee for establishing and managing a statutory support

trust and this fee shall be disclosed in writing prior to the trust

or account being established.

D. The State Banking Department shall promulgate any necessary

rules to implement the provisions of this section.

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.