Okla. Stat. tit. 60, § 60-175.54
This is the official text of Okla. Stat. tit. 60, § 60-175.54, 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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Situs in jurisdiction where trustee not qualified to
Official statutory text
act - Powers of trustee.
A trustee, whether an individual or a corporation, shall have
the power to appoint a natural or corporate trustee to act with
respect to the portion of the trust estate that has situs in a
jurisdiction in which the trustee is not qualified to act and shall
have the power to remove each such appointee at any time with or
without cause. Each such appointee shall: (1) have all of the
powers granted in this act or under the trust instrument to the
trustee with respect to the management of the trust estate, (2)
transfer to the trustee as soon as practicable all gross receipts
derived from the portion of the trust estate that remains under his
control, and (3) be liable to the trustee for any wrongful act or
mismanagement of the trust estate in the same manner that the
trustee is liable to the beneficiaries.
A trustee, whether an individual or a corporation, shall have
the power to appoint a natural or corporate trustee to act with
respect to the portion of the trust estate that has situs in a
jurisdiction in which the trustee is not qualified to act and shall
have the power to remove each such appointee at any time with or
without cause. Each such appointee shall: (1) have all of the
powers granted in this act or under the trust instrument to the
trustee with respect to the management of the trust estate, (2)
transfer to the trustee as soon as practicable all gross receipts
derived from the portion of the trust estate that remains under his
control, and (3) be liable to the trustee for any wrongful act or
mismanagement of the trust estate in the same manner that the
trustee is liable to the beneficiaries.
Status: in_force · Read it on the official government site
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