§ 60-1305 — Governing law — Jurisdiction over trusts created in

foreign jurisdictions. A. Except as expressly provided by the terms of a governing instrument or by a court order, a general law or a state jurisdiction provision stating that the laws of this state govern is valid, effective, and conclusive for the trust if all of the following are true: 1. Some or all of the trust assets are deposited in this state or physical evidence of such assets is held in this state and the trust is being administered by a qualified person. "Deposited in this state" includes being held in a checking account, time deposit, certificate of deposit, brokerage account, trust company fiduciary account, or other similar account or deposit that is located in this state, including Oklahoma investments; 2. A trustee is a qualified person who is designated as a trustee under the governing instrument or a successor trusteeship, or designated by a court having jurisdiction over the trust; and 3. The administration, including physically maintaining trust records in this state, and preparing or arranging for the preparation of, on an exclusive basis or a nonexclusive basis, an income tax return that must be filed by the trust, occurs wholly or partly in this state. B. The courts of this state have jurisdiction over a trust created in a foreign jurisdiction if the administration of the trust meets the criteria of paragraphs 1 through 3 of subsection A of this section. C. Nothing in this section may be construed to be the exclusive means of providing a valid effective and conclusive state jurisdiction provision.

Legislative History

Added by Laws 2024, c. 369, § 23, eff. Nov. 1, 2024.