Okla. Stat. tit. 60, § 60-175.15
This is the official text of Okla. Stat. tit. 60, § 60-175.15, 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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Trustee owning stock in name of nominee - Exemption
Official statutory text
A trustee owning stock may hold it in the name of a nominee,
without mention of the trust in the stock certificate or stock
registration book; provided that:
A. The trust records and all reports or accounts rendered by
the trustee, clearly show the ownership of the stock by the trustee,
and the facts regarding its holdings;
B. The nominee deposits with the trustee a signed statement
showing the trust ownership, endorses the stock certificate in
Oklahoma Statutes - Title 60. Property Page 55
blank, and does not have possession of the stock certificate or
access thereto except under the immediate supervision of the
trustee. The trustee shall be personally liable for any loss to the
trust resulting from any wrongful or negligent act of such nominee
in connection with stock so held; and
C. The provisions of this section shall not apply to a bank,
trust company or national banking association.
without mention of the trust in the stock certificate or stock
registration book; provided that:
A. The trust records and all reports or accounts rendered by
the trustee, clearly show the ownership of the stock by the trustee,
and the facts regarding its holdings;
B. The nominee deposits with the trustee a signed statement
showing the trust ownership, endorses the stock certificate in
Oklahoma Statutes - Title 60. Property Page 55
blank, and does not have possession of the stock certificate or
access thereto except under the immediate supervision of the
trustee. The trustee shall be personally liable for any loss to the
trust resulting from any wrongful or negligent act of such nominee
in connection with stock so held; and
C. The provisions of this section shall not apply to a bank,
trust company or national banking association.
Status: in_force · Read it on the official government site
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