Okla. Stat. tit. 60, § 60-175.403

BUSINESS AND OTHER ACTIVITIES CONDUCTED BY TRUSTEE

A. If a trustee who conducts a business or other activity

determines that it is in the best interest of all the beneficiaries

to account separately for the business or activity instead of

accounting for it as part of the trust's general accounting records,

the trustee may maintain separate accounting records for its

Oklahoma Statutes - Title 60. Property Page 95

transactions, whether or not its assets are segregated from other

trust assets.

B. A trustee who accounts separately for a business or other

activity may determine the extent to which its net cash receipts

must be retained for working capital, the acquisition or replacement

of fixed assets, and other reasonably foreseeable needs of the

business or activity, and the extent to which the remaining net cash

receipts are accounted for as principal or income in the trust's

general accounting records. If a trustee sells assets of the

business or other activity, other than in the ordinary course of the

business or activity, the trustee shall account for the net amount

received as principal in the trust's general accounting records to

the extent the trustee determines that the amount received is no

longer required in the conduct of the business.

C. Activities for which a trustee may maintain separate

accounting records include:

1. Retail, manufacturing, service, and other traditional

business activities;

2. Farming;

3. Raising and selling livestock and other animals;

4. Management of rental properties;

5. Extraction of minerals and other natural resources;

6. Timber operations; and

7. Activities to which Section 23 of this act applies.