§ 1413. Duties of trustee on filing of lien notice--Liability
Oklahoma Statutes AnnotatedTitle 22. Criminal Procedure
22 Okl.St.Ann. § 1413
§ 1413. Duties of trustee on filing of lien notice--Liability
A. A trustee, who acquires actual knowledge that a lien notice or a civil proceeding or criminal proceeding has been filed against any person for whom the trustee holds legal or record title to personal or real property, shall immediately furnish to the Attorney General or district attorney the following:
3. If requested by the Attorney General or district attorney, a copy of the trust agreement or other instrument pursuant to which the trustee holds legal or record title to the personal or real property. Any trustee who fails to comply with the provisions of this section, upon conviction, is guilty of a felony.
3. The fair market value of the interest of the person named in the lien notice in the personal or real property transferred or conveyed; but if the trustee transfers or conveys the personal or real property for at least its fair market value and holds the proceeds that would otherwise be paid or distributed to the beneficiary or at the direction of the beneficiary or designee of the beneficiary, the liability of the trustee shall not exceed the amount of the proceeds held for so long as the proceeds are held by the trustee.
C. The filing of a lien notice shall not constitute a lien on the record title to personal or real property owned by the trustee except to the extent the trustee is named in the lien notice. The Attorney General or district attorney may bring a civil proceeding in any district court against the trustee to recover from the trustee the amounts set forth in the Oklahoma Racketeer-Influenced and Corrupt Organizations Act, and the state shall also be entitled to recover investigative costs and attorneys fees incurred by the Attorney General or district attorney.
Credits
Laws 1988, c. 131, § 13, eff. Nov. 1, 1988; Laws 2010, c. 456, § 15, eff. Nov. 1, 2010.
22 Okl. St. Ann. § 1413, OK ST T. 22 § 1413
Current with legislation of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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