§ 175.15. Trustee owning stock in name of nominee--Exemption
Oklahoma Statutes AnnotatedTitle 60. Property
60 Okl.St.Ann. § 175.15
§ 175.15. Trustee owning stock in name of nominee--Exemption
A trustee owning stock may hold it in the name of a nominee, without mention of the trust in the stock certificate or stock registration book; provided that:
B. The nominee deposits with the trustee a signed statement showing the trust ownership, endorses the stock certificate in blank, and does not have possession of the stock certificate or access thereto except under the immediate supervision of the trustee. The trustee shall be personally liable for any loss to the trust resulting from any wrongful or negligent act of such nominee in connection with stock so held; and
C.1The provisions of this section shall not apply to a bank, trust company or national banking association.
Credits
Laws 1941, p. 252, § 15; Laws 1975, c. 123, § 2, emerg. eff. May 13, 1975.
Footnotes
Paragraph C should be an unlettered paragraph.
60 Okl. St. Ann. § 175.15, OK ST T. 60 § 175.15
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.
End of Document |