Oklahoma § 60-1314 Creditors' rights to qualified disposition — Personal

Oklahoma Statutes

§ 60-1314 — Creditors' rights to qualified disposition — Personal

Oklahoma·Title 60 Property

liability of qualified person. Notwithstanding any law to the contrary, a creditor, including a creditor whose claim arose before or after a qualified disposition, or any other person has only such rights with respect to a qualified disposition as are provided in Sections 29 through 36 of this act, and no such creditor nor any other person has any claim or cause of action against the trustee or advisor, described in Section 24 of this act, of a trust that is the subject of a qualified disposition, or against any person involved in the counseling, drafting, preparation, execution, or funding of a trust that is the subject of a qualified disposition. In addition to the provisions of Section 37 of this act, at no time is a qualified person personally liable to a creditor of a transferor or an

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liability of qualified person. Notwithstanding any law to the contrary, a creditor, including a creditor whose claim arose before or after a qualified disposition, or any other person has only such rights with respect to a qualified disposition as are provided in Sections 29 through 36 of this act, and no such creditor nor any other person has any claim or cause of action against the trustee or advisor, described in Section 24 of this act, of a trust that is the subject of a qualified disposition, or against any person involved in the counseling, drafting, preparation, execution, or funding of a trust that is the subject of a qualified disposition. In addition to the provisions of Section 37 of this act, at no time is a qualified person personally liable to a creditor of a transferor or any other person for distributions made by the qualified person, before the creditor or person notified the qualified person, in writing, that a claim or cause of action existed. This applies regardless of whether the distributions are made to or for the benefit of the transferor or a beneficiary during the period in which a creditor or other person could make a claim as provided in Section 30 of this act.

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