Okla. Stat. tit. 60, § 60-1608.16
This is the official text of Okla. Stat. tit. 60, § 60-1608.16, 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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Distribution upon termination
Official statutory text
A. Upon termination or partial termination of a trust, the
trustee may send to the beneficiaries a proposal for distribution.
The right of any beneficiary to object to the proposed distribution
terminates if the beneficiary does not notify the trustee of an
objection within thirty (30) days after the proposal was sent but
only if the proposal informed the beneficiary of the right to object
and of the time allowed for objection.
B. Upon the occurrence of an event terminating or partially
terminating a trust, the trustee shall proceed reasonably to
distribute the trust property to the persons entitled to it, subject
Oklahoma Statutes - Title 60. Property Page 324
to the right of the trustee to retain a reasonable reserve for the
payment of debts, expenses, and taxes.
C. A release by a beneficiary of a trustee from liability for
breach of trust is invalid to the extent:
1. It was induced by improper conduct of the trustee; or
2. The beneficiary, at the time of the release, did not know of
the beneficiary's rights or of the material facts relating to the
breach.
ARTICLE 9
LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH
TRUSTEE
trustee may send to the beneficiaries a proposal for distribution.
The right of any beneficiary to object to the proposed distribution
terminates if the beneficiary does not notify the trustee of an
objection within thirty (30) days after the proposal was sent but
only if the proposal informed the beneficiary of the right to object
and of the time allowed for objection.
B. Upon the occurrence of an event terminating or partially
terminating a trust, the trustee shall proceed reasonably to
distribute the trust property to the persons entitled to it, subject
Oklahoma Statutes - Title 60. Property Page 324
to the right of the trustee to retain a reasonable reserve for the
payment of debts, expenses, and taxes.
C. A release by a beneficiary of a trustee from liability for
breach of trust is invalid to the extent:
1. It was induced by improper conduct of the trustee; or
2. The beneficiary, at the time of the release, did not know of
the beneficiary's rights or of the material facts relating to the
breach.
ARTICLE 9
LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH
TRUSTEE
Status: in_force · Read it on the official government site
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