Okla. Stat. tit. 60, § 60-1205
This is the official text of Okla. Stat. tit. 60, § 60-1205, 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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Excluded from application
Official statutory text
A. In this section, "power of appointment" means a power that
enables a person acting in a nonfiduciary capacity to designate a
Oklahoma Statutes - Title 60. Property Page 270
recipient of an ownership interest in or another power of
appointment over trust property.
B. This act does not apply to a:
1. Power of appointment;
2. Power to appoint or remove a trustee or trust director;
3. Power of a settlor over a trust to the extent the settlor
has a power to revoke the trust;
4. Power of a beneficiary over a trust to the extent the
exercise or nonexercise of the power affects the beneficial interest
of:
a. the beneficiary, or
b. another beneficiary represented by the beneficiary
with respect to the exercise or nonexercise of the
power; or
5. Power over a trust, if:
a. the terms of the trust provide that the power is held
in a nonfiduciary capacity, and
b. the power must be held in a nonfiduciary capacity to
achieve the settlor's tax objectives under the United
States Internal Revenue Code of 1986, as amended, and
regulations issued thereunder, as amended.
C. Unless the terms of a trust provide otherwise, a power
granted to a person to designate a recipient of an ownership
interest in, or power of appointment over trust property which is
exercisable while the person is not serving as a trustee is a power
of appointment and not a power of direction.
enables a person acting in a nonfiduciary capacity to designate a
Oklahoma Statutes - Title 60. Property Page 270
recipient of an ownership interest in or another power of
appointment over trust property.
B. This act does not apply to a:
1. Power of appointment;
2. Power to appoint or remove a trustee or trust director;
3. Power of a settlor over a trust to the extent the settlor
has a power to revoke the trust;
4. Power of a beneficiary over a trust to the extent the
exercise or nonexercise of the power affects the beneficial interest
of:
a. the beneficiary, or
b. another beneficiary represented by the beneficiary
with respect to the exercise or nonexercise of the
power; or
5. Power over a trust, if:
a. the terms of the trust provide that the power is held
in a nonfiduciary capacity, and
b. the power must be held in a nonfiduciary capacity to
achieve the settlor's tax objectives under the United
States Internal Revenue Code of 1986, as amended, and
regulations issued thereunder, as amended.
C. Unless the terms of a trust provide otherwise, a power
granted to a person to designate a recipient of an ownership
interest in, or power of appointment over trust property which is
exercisable while the person is not serving as a trustee is a power
of appointment and not a power of direction.
Status: in_force · Read it on the official government site
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