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§ 175.712. Later discovered assets

Oklahoma Statutes AnnotatedTitle 60. PropertyEffective: November 1, 2021

Oklahoma Statutes Annotated
Title 60. Property (Refs & Annos)
Chapter 4. Uses and Trusts
Oklahoma Decanting Act
Effective: November 1, 2021
60 Okl.St.Ann. § 175.712
§ 175.712. Later discovered assets
Currentness
LATER DISCOVERED ASSETS
To the extent the authorized trustee does not provide otherwise:
1. The distribution of all of the principal of a first trust to a second trust includes subsequently discovered assets otherwise belonging to the first trust and principal paid to or acquired by the first trust after the distribution of the first trust's principal to the second trust; and
2. The distribution of part of the principal of a first trust to a second trust does not include subsequently discovered assets belonging to the first trust or principal paid to or acquired by the first trust after the distribution of principal from the first trust to the second trust, and those assets or that principal remain the assets or principal of the first trust.

Credits

Laws 2021, c. 268, § 12, eff. Nov. 1, 2021.
60 Okl. St. Ann. § 175.712, OK ST T. 60 § 175.712
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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