Okla. Stat. tit. 60, § 60-175.11a
This is the official text of Okla. Stat. tit. 60, § 60-175.11a, 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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Trust powers
Official statutory text
A national banking association, a credit union, a state-
chartered corporation, including a state-chartered bank or trust
company, or a state or federal savings and loan association that has
the right to exercise trust powers and that is serving as trustee,
may:
1. Employ an affiliate or division within a financial
institution to provide brokerage, investment, administrative,
custodial, or other account services for the trust and charge the
trust for the services; and
2. Receive compensation, directly or indirectly, for the
services performed by the affiliate or division within the financial
institution, whether in the form of shared commissions, fees, or
otherwise, provided that any amount charged by the affiliate or
division for the services is disclosed and does not exceed the
customary or prevailing amount that is charged by the affiliate or
division, or a comparable entity, for comparable services rendered
to a person other than the trust.
chartered corporation, including a state-chartered bank or trust
company, or a state or federal savings and loan association that has
the right to exercise trust powers and that is serving as trustee,
may:
1. Employ an affiliate or division within a financial
institution to provide brokerage, investment, administrative,
custodial, or other account services for the trust and charge the
trust for the services; and
2. Receive compensation, directly or indirectly, for the
services performed by the affiliate or division within the financial
institution, whether in the form of shared commissions, fees, or
otherwise, provided that any amount charged by the affiliate or
division for the services is disclosed and does not exceed the
customary or prevailing amount that is charged by the affiliate or
division, or a comparable entity, for comparable services rendered
to a person other than the trust.
Status: in_force · Read it on the official government site
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