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§ 175.716. Certain distributions prohibited

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. § 175.716
§ 175.716. Certain distributions prohibited
Currentness
CERTAIN DISTRIBUTIONS PROHIBITED
A. Except as provided by subsection B of this section, an authorized trustee shall not exercise a power to distribute principal of a trust otherwise provided by Section 3 or 4 of this act1 if the distribution is expressly prohibited by the terms of the governing instrument of the trust.
B. A general prohibition of the amendment or revocation of a trust or a provision that constitutes a spendthrift clause shall not preclude the exercise of a power to distribute principal of a trust under Section 3 or 4 of this act.

Credits

Laws 2021, c. 268, § 16, eff. Nov. 1, 2021.

Footnotes

1
Title 60, §§ 170.703 and 170.704.
60 Okl. St. Ann. § 175.716, OK ST T. 60 § 175.716
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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