Okla. Stat. tit. 60, § 60-175.83
This is the official text of Okla. Stat. tit. 60, § 60-175.83, 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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Applicable provisions for trusts created or modified
Official statutory text
after November 1, 2010.
The following provisions apply to all trusts created or modified
from and after November 1, 2010, regardless of whether a spendthrift
provision is included in a trust:
1. A distribution interest shall not be judicially sold. A
distribution interest in a trust includes, but is not limited to, a
current distribution interest, future distribution interest or
income interest;
2. A remainder interest, power of appointment or a reserved
power in a trust shall not be judicially sold;
Oklahoma Statutes - Title 60. Property Page 80
3. Except as to a settlor who is also a trustee of a revocable
trust, trust property is not subject to personal obligations of the
trustee, even if the trustee becomes insolvent or bankrupt;
4. A beneficiary of a trust has an equitable interest in the
trust to bring an action against the trustee to enforce the terms of
the trust subject to the judicial review standard set forth in
paragraph 4 of Section 9 of this act; and
5. Subject to the provisions of the Uniform Fraudulent Transfer
Act, the Oklahoma Discretionary and Special Needs Trust Act provides
for the sole and exclusive remedies that are available to a creditor
or other nonbeneficiary claiming an interest in the trust.
The following provisions apply to all trusts created or modified
from and after November 1, 2010, regardless of whether a spendthrift
provision is included in a trust:
1. A distribution interest shall not be judicially sold. A
distribution interest in a trust includes, but is not limited to, a
current distribution interest, future distribution interest or
income interest;
2. A remainder interest, power of appointment or a reserved
power in a trust shall not be judicially sold;
Oklahoma Statutes - Title 60. Property Page 80
3. Except as to a settlor who is also a trustee of a revocable
trust, trust property is not subject to personal obligations of the
trustee, even if the trustee becomes insolvent or bankrupt;
4. A beneficiary of a trust has an equitable interest in the
trust to bring an action against the trustee to enforce the terms of
the trust subject to the judicial review standard set forth in
paragraph 4 of Section 9 of this act; and
5. Subject to the provisions of the Uniform Fraudulent Transfer
Act, the Oklahoma Discretionary and Special Needs Trust Act provides
for the sole and exclusive remedies that are available to a creditor
or other nonbeneficiary claiming an interest in the trust.
Status: reserved · Read it on the official government site
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