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§ 1736. Hiring and compensation of affiliates

Oklahoma Statutes AnnotatedTitle 6. Banks and Trust Companies

Oklahoma Statutes Annotated
Title 6. Banks and Trust Companies (Refs & Annos)
Chapter 1B. Trust Institutions
State Trust Institution Charter Modernization Act
6 Okl.St.Ann. § 1736
§ 1736. Hiring and compensation of affiliates
Currentness
A. Any person acting as a trustee or in any other fiduciary capacity pursuant to Section 31 of this act1 may hire and compensate, as a delegate, an affiliate of such person if:
1. Authorized by a trust or fiduciary instrument;
2. Authorized by court order;
3. Authorized in writing by each affected client; or
4. The standards set forth in Section 31 of this act are satisfied.
B. Fees paid to an affiliate shall be competitive with fees charged by nonaffiliates that provide substantially similar services.

Credits

Laws 1998, c. 104, § 32, eff. Nov. 1, 1998.

Footnotes

1
Title 6, § 1735.
6 Okl. St. Ann. § 1736, OK ST T. 6 § 1736
Current with emergency effective legislation through Chapter 277 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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