§ 175.20. Actions for trustee's torts--Personal liability of trustee
Oklahoma Statutes AnnotatedTitle 60. Property
60 Okl.St.Ann. § 175.20
§ 175.20. Actions for trustee's torts--Personal liability of trustee
Where a trustee or his predecessor has incurred personal liability for a tort committed in the course of his administration:
3. That although the tort did not fall within Classes 1 or 2 above, it increased the value of the trust property. If the tort is within Classes 1 or 2 above, collection may be had of the full amount of damage proved; and if the tort is within Class 3 above, collection may be had only to the extent of the permanent increase in the value of the trust property.
C. No judgment shall be rendered in favor of the plaintiff in such action unless he proves that within thirty (30) days after the beginning of the action, or within such other period as the court may fix, and more than thirty (30) days prior to obtaining the judgment, he notified each of the beneficiaries known to the trustee who then had a present or contingent interest of the existence and nature of the action. Such notice shall be given by mailing copies thereof in postpaid envelopes addressed to such beneficiaries at their last known addresses. The trustee shall furnish the plaintiff a list of such beneficiaries and their addresses, within ten (10) days after written demand therefor, and notification of the persons on such list shall constitute compliance with the duty placed on the plaintiff by this action. Any beneficiary may intervene in such action and contest the right of the plaintiff to recover. If any beneficiary is a minor or has been adjudged incompetent, the court shall appoint a guardian ad litem, whose duty it shall be to defend such action.
D. The trustee may also be held personally liable for any tort committed by him, or his agents or employees in the course of their employments, subject to the rights of exoneration or reimbursement provided in Section 19 of this act.1
Credits
Laws 1941, p. 254, § 20.
Footnotes
Title 60, § 175.19.
60 Okl. St. Ann. § 175.20, OK ST T. 60 § 175.20
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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