Okla. Stat. tit. 60, § 60-175.408
This is the official text of Okla. Stat. tit. 60, § 60-175.408, 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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Insubstantial allocations not required
Official statutory text
INSUBSTANTIAL ALLOCATIONS NOT REQUIRED
If a trustee determines that an allocation between principal and
income required by Section 18, 19, 20, 21, or 24 of this act is
insubstantial, the trustee may allocate the entire amount to
principal unless one of the circumstances described in subsection C
of Section 4 of this act applies to the allocation. This power may
be exercised by a cotrustee in the circumstances described in
subsection D of Section 4 of this act and may be released for the
reasons and in the manner described in subsection E of Section 4 of
this act. An allocation is presumed to be insubstantial if:
1. The amount of the allocation would increase or decrease net
income in an accounting period, as determined before the allocation,
by less than ten percent (10%); or
2. The value of the asset producing the receipt for which the
allocation would be made is less than ten percent (10%) of the total
value of the trust's assets at the beginning of the accounting
period.
If a trustee determines that an allocation between principal and
income required by Section 18, 19, 20, 21, or 24 of this act is
insubstantial, the trustee may allocate the entire amount to
principal unless one of the circumstances described in subsection C
of Section 4 of this act applies to the allocation. This power may
be exercised by a cotrustee in the circumstances described in
subsection D of Section 4 of this act and may be released for the
reasons and in the manner described in subsection E of Section 4 of
this act. An allocation is presumed to be insubstantial if:
1. The amount of the allocation would increase or decrease net
income in an accounting period, as determined before the allocation,
by less than ten percent (10%); or
2. The value of the asset producing the receipt for which the
allocation would be made is less than ten percent (10%) of the total
value of the trust's assets at the beginning of the accounting
period.
Status: in_force · Read it on the official government site
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