Oklahoma § 60-1203 Scope and application.

Oklahoma Statutes

§ 60-1203 — Scope and application.

Oklahoma·Title 60 Property

A.This act applies to a trust, whenever created, that has its principal place of administration in this state and is subject to the following rules: 1. If the trust was created before the effective date of this act, this act applies only to a decision or action occurring on or after the effective date of this act; and 2. If the principal place of administration of the trust is changed to this state on or after the effective date of this act, this act applies only to a decision or action occurring on or after the date of the change.

B.Without precluding other means to establish a sufficient connection with the designated jurisdiction in a directed trust, the terms of the trust which designate the principal place of administration of the trust are valid and controlling if: 1. A trustee's p

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A. This act applies to a trust, whenever created, that has its principal place of administration in this state and is subject to the following rules: 1. If the trust was created before the effective date of this act, this act applies only to a decision or action occurring on or after the effective date of this act; and 2. If the principal place of administration of the trust is changed to this state on or after the effective date of this act, this act applies only to a decision or action occurring on or after the date of the change. B. Without precluding other means to establish a sufficient connection with the designated jurisdiction in a directed trust, the terms of the trust which designate the principal place of administration of the trust are valid and controlling if: 1. A trustee's principal place of business is located in or a trustee is a resident of the designated jurisdiction; 2. A trust director's principal place of business is located in or a trust director is a resident of the designated jurisdiction; or 3. All or part of the administration occurs in the designated jurisdiction.

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