Okla. Stat. tit. 60, § 60-1314
This is the official text of Okla. Stat. tit. 60, § 60-1314, 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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Creditors' rights to qualified disposition — Personal
Official statutory text
liability of qualified person.
Notwithstanding any law to the contrary, a creditor, including a
creditor whose claim arose before or after a qualified disposition,
or any other person has only such rights with respect to a qualified
disposition as are provided in Sections 29 through 36 of this act,
and no such creditor nor any other person has any claim or cause of
action against the trustee or advisor, described in Section 24 of
this act, of a trust that is the subject of a qualified disposition,
or against any person involved in the counseling, drafting,
preparation, execution, or funding of a trust that is the subject of
a qualified disposition. In addition to the provisions of Section
Oklahoma Statutes - Title 60. Property Page 282
37 of this act, at no time is a qualified person personally liable
to a creditor of a transferor or any other person for distributions
made by the qualified person, before the creditor or person notified
the qualified person, in writing, that a claim or cause of action
existed. This applies regardless of whether the distributions are
made to or for the benefit of the transferor or a beneficiary during
the period in which a creditor or other person could make a claim as
provided in Section 30 of this act.
Notwithstanding any law to the contrary, a creditor, including a
creditor whose claim arose before or after a qualified disposition,
or any other person has only such rights with respect to a qualified
disposition as are provided in Sections 29 through 36 of this act,
and no such creditor nor any other person has any claim or cause of
action against the trustee or advisor, described in Section 24 of
this act, of a trust that is the subject of a qualified disposition,
or against any person involved in the counseling, drafting,
preparation, execution, or funding of a trust that is the subject of
a qualified disposition. In addition to the provisions of Section
Oklahoma Statutes - Title 60. Property Page 282
37 of this act, at no time is a qualified person personally liable
to a creditor of a transferor or any other person for distributions
made by the qualified person, before the creditor or person notified
the qualified person, in writing, that a claim or cause of action
existed. This applies regardless of whether the distributions are
made to or for the benefit of the transferor or a beneficiary during
the period in which a creditor or other person could make a claim as
provided in Section 30 of this act.
Status: in_force · Read it on the official government site
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