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§ 16. Revocation of preservation trust cannot be compelled--Restrictions on transferability

Oklahoma Statutes AnnotatedTitle 31. Homestead and Exemptions

Oklahoma Statutes Annotated
Title 31. Homestead and Exemptions (Refs & Annos)
Family Wealth Preservation Trust Act
31 Okl.St.Ann. § 16
§ 16. Revocation of preservation trust cannot be compelled--Restrictions on transferability
Currentness
No court or other judicial body shall have the authority to compel a person holding a power of revocation or amendment over a preservation trust to exercise the power of revocation or amendment. The provisions of this act1 shall be considered restrictions on the transferability of the grantor's beneficial interest in the preservation trust that is enforceable under applicable nonbankruptcy law within the meaning of Section 541(c)(2) of the United States Bankruptcy Code2 or any successor provisions.

Credits

Laws 2004, c. 509, § 7, emerg. eff. June 9, 2004; Laws 2005, c. 438, § 6, emerg. eff. June 8, 2005.

Footnotes

1
Title 31, § 10 et seq.
2
11 U.S.C.A. § 541
31 Okl. St. Ann. § 16, OK ST T. 31 § 16
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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