Okla. Stat. tit. 60, § 60-1203
This is the official text of Okla. Stat. tit. 60, § 60-1203, part of Oklahoma’s Stat. tit. 60, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 60,." Browse the sections below, each linked to its official government source.
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Scope and application
Official statutory text
A. This act applies to a trust, whenever created, that has its
principal place of administration in this state and is subject to
the following rules:
1. If the trust was created before the effective date of this
act, this act applies only to a decision or action occurring on or
after the effective date of this act; and
2. If the principal place of administration of the trust is
changed to this state on or after the effective date of this act,
this act applies only to a decision or action occurring on or after
the date of the change.
B. Without precluding other means to establish a sufficient
connection with the designated jurisdiction in a directed trust, the
terms of the trust which designate the principal place of
administration of the trust are valid and controlling if:
1. A trustee's principal place of business is located in or a
trustee is a resident of the designated jurisdiction;
2. A trust director's principal place of business is located in
or a trust director is a resident of the designated jurisdiction; or
3. All or part of the administration occurs in the designated
jurisdiction.
principal place of administration in this state and is subject to
the following rules:
1. If the trust was created before the effective date of this
act, this act applies only to a decision or action occurring on or
after the effective date of this act; and
2. If the principal place of administration of the trust is
changed to this state on or after the effective date of this act,
this act applies only to a decision or action occurring on or after
the date of the change.
B. Without precluding other means to establish a sufficient
connection with the designated jurisdiction in a directed trust, the
terms of the trust which designate the principal place of
administration of the trust are valid and controlling if:
1. A trustee's principal place of business is located in or a
trustee is a resident of the designated jurisdiction;
2. A trust director's principal place of business is located in
or a trust director is a resident of the designated jurisdiction; or
3. All or part of the administration occurs in the designated
jurisdiction.
Status: in_force · Read it on the official government site
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