Oklahoma § 60-1601.5 Default and mandatory rules.

Oklahoma Statutes

§ 60-1601.5 — Default and mandatory rules.

Oklahoma § 60-1601.5

Title 60Property

This text of Oklahoma § 60-1601.5 (Default and mandatory rules.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 60, § 60-1601.5 (2026).

Text

A.Except as otherwise provided in the terms of the trust, this act governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.

B.The terms of a trust prevail over any provision of this act except: 1. The requirements for creating a trust; 2. Subject to the Oklahoma Uniform Directed Trust Act, Sections 1209, 1211, and 1212 of Title 60 of the Oklahoma Statutes, the duty of a trustee to act in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries; 3. The requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve; 4. The power of the court to modify or termi

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A. Except as otherwise provided in the terms of the trust, this act governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary. B. The terms of a trust prevail over any provision of this act except: 1. The requirements for creating a trust; 2. Subject to the Oklahoma Uniform Directed Trust Act, Sections 1209, 1211, and 1212 of Title 60 of the Oklahoma Statutes, the duty of a trustee to act in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries; 3. The requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve; 4. The power of the court to modify or terminate a trust under Sections 28 through 34 of this act; 5. The effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in Section 36 of this act; 6. The power of the court under Section 41 of this act to require, dispense with, or modify or terminate a bond; 7. The power of the court under subsection B of Section 47 of this act to adjust a trustee's compensation specified in the terms of the trust which is unreasonably low or high; 8. The duty under paragraphs 2 and 3 of Section 60 of this act to notify qualified beneficiaries of an irrevocable trust who have attained twenty-five (25) years of age of the existence of the trust, of the identity of the trustee, and of their right to request trustee's reports; 9. The duty under subsection A of Section 60 of this act to respond to the request of a qualified beneficiary of an irrevocable trust for trustee's reports and other information reasonably related to the administration of a trust; 10. The rights under Sections 68 through 71 of this act of a person other than a trustee or beneficiary; 11. Periods of limitation for commencing a judicial proceeding; 12. The power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and 13. The subject matter jurisdiction of the court and venue for commencing a proceeding as provided in Section 14 of this act.