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§ 175.715. Duties not created

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. § 175.715
§ 175.715. Duties not created
Currentness
DUTIES NOT CREATED
A. This act does not create or imply a duty for an authorized trustee to exercise a power to distribute principal, and impropriety shall not be inferred as a result of the trustee not exercising a power conferred by Section 3 or 4 of this act.1
B. An authorized trustee does not have a duty to inform beneficiaries about the availability of the authority provided by this act or a duty to review the trust to determine whether any action should be taken under this act.

Credits

Laws 2021, c. 268, § 15, eff. Nov. 1, 2021.

Footnotes

1
Title 60, §§ 170.703 and 170.704.
60 Okl. St. Ann. § 175.715, OK ST T. 60 § 175.715
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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