Okla. Stat. tit. 60, § 60-1607.4
This is the official text of Okla. Stat. tit. 60, § 60-1607.4, 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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Vacancy in trusteeship — Appointment of successor
Official statutory text
A. A vacancy in a trusteeship occurs if:
1. A person designated as trustee rejects the trusteeship;
2. A person designated as trustee cannot be identified or does
not exist;
3. A trustee resigns;
4. A trustee is disqualified or removed;
5. A trustee dies; or
6. A guardian is appointed for an individual serving as
trustee.
B. If one or more co-trustees remain in office, a vacancy in a
trusteeship need not be filled. A vacancy in a trusteeship must be
filled if the trust has no remaining trustee.
C. A vacancy in a trusteeship of a noncharitable trust that is
required to be filled must be filled in the following order of
priority:
1. By a person designated in the terms of the trust to act as
successor trustee;
2. By a person appointed by unanimous agreement of the
qualified beneficiaries; or
3. By a person appointed by the court.
D. A vacancy in a trusteeship of a charitable trust that is
required to be filled must be filled in the following order of
priority:
1. By a person designated in the terms of the trust to act as
successor trustee;
2. By a person selected by the charitable organizations
expressly designated to receive distributions under the terms of the
Oklahoma Statutes - Title 60. Property Page 313
trust if the Office of the Attorney General concurs in the
selection; or
3. By a person appointed by the court.
E. Whether or not a vacancy in a trusteeship exists or is
required to be filled, the court may appoint an additional trustee
or special fiduciary whenever the court considers the appointment
necessary for the administration of the trust.
1. A person designated as trustee rejects the trusteeship;
2. A person designated as trustee cannot be identified or does
not exist;
3. A trustee resigns;
4. A trustee is disqualified or removed;
5. A trustee dies; or
6. A guardian is appointed for an individual serving as
trustee.
B. If one or more co-trustees remain in office, a vacancy in a
trusteeship need not be filled. A vacancy in a trusteeship must be
filled if the trust has no remaining trustee.
C. A vacancy in a trusteeship of a noncharitable trust that is
required to be filled must be filled in the following order of
priority:
1. By a person designated in the terms of the trust to act as
successor trustee;
2. By a person appointed by unanimous agreement of the
qualified beneficiaries; or
3. By a person appointed by the court.
D. A vacancy in a trusteeship of a charitable trust that is
required to be filled must be filled in the following order of
priority:
1. By a person designated in the terms of the trust to act as
successor trustee;
2. By a person selected by the charitable organizations
expressly designated to receive distributions under the terms of the
Oklahoma Statutes - Title 60. Property Page 313
trust if the Office of the Attorney General concurs in the
selection; or
3. By a person appointed by the court.
E. Whether or not a vacancy in a trusteeship exists or is
required to be filled, the court may appoint an additional trustee
or special fiduciary whenever the court considers the appointment
necessary for the administration of the trust.
Status: in_force · Read it on the official government site
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