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§ 175.719. Compensation of trustee

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. § 175.719
§ 175.719. Compensation of trustee
COMPENSATION OF TRUSTEE
A. Except as provided by subsection B of this section and unless a court, on application of the authorized trustee, directs otherwise, the trustee shall not exercise a power under Section 3 or 4 of this act1 solely to change trust provisions regarding the determination of the compensation of any trustee.
B. An authorized trustee, in connection with the exercise of a power under Section 3 or 4 of this act for another valid and reasonable purpose, may bring the trustee's compensation into conformance with reasonable limits authorized by state law.
C. The compensation payable to an authorized trustee of the first trust may continue to be paid to the trustee of the second trust during the term of the second trust and may be determined in the same manner as the compensation would have been determined in the first trust.
D. An authorized trustee shall not receive a commission or other compensation for the distribution of a particular asset from a first trust to a second trust under Section 3 or 4 of this act.

Credits

Laws 2021, c. 268, § 19, eff. Nov. 1, 2021.

Footnotes

Title 60, §§ 170.703 and 170.704.
60 Okl. St. Ann. § 175.719, OK ST T. 60 § 175.719
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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