Oklahoma § 60-175.103
Full text of Oklahoma Oklahoma Statutes § 60-175.103, with citation guidance and answers to common questions.
§ 60-175.103.
Fiduciary duties - General principles.
FIDUCIARY DUTIES; GENERAL PRINCIPLES
A. In allocating receipts and disbursements to or between
principal and income, and with respect to any matter within the
scope of Articles 2 and 3 of this act, a fiduciary:
1. Shall administer a trust or estate in accordance with the
terms of the trust or the will, even if there is a different
provision in this act;
2. May administer a trust or estate by the exercise of a
discretionary power of administration given to the fiduciary by the
terms of the trust or the will, even if the exercise of the power
produces a result different from a result required or permitted by
this act;
3. Shall administer a trust or estate in accordance with this
act if the terms of the trust or the will do not contain a different
Oklahoma Statutes - Title 60. Property
provision or do not give the fiduciary a discretionary power of
administration; and
4. Shall add a receipt or charge a disbursement to principal to
the extent that the terms of the trust and this act do not provide a
rule for allocating the receipt or disbursement to or between
principal and income.
B. In exercising the power to adjust under subsection A of
Section 4 of this act or a discretionary power of administration
regarding a matter within the scope of this act, whether granted by
the terms of a trust, a will, or this act, a fiduciary shall
administer a trust or estate impartially, based on what is fair and
reasonable to all of the beneficiaries, except to the extent that
the terms of the trust or the will clearly manifest an intention
that the fiduciary shall or may favor one or more of the
beneficiaries. A determination in accordance with this act is
presumed to be fair and reasonable to all of the beneficiaries.
Added by Laws 1998, c. 115, § 3, eff. Nov. 1, 1998.
Frequently Asked Questions About Oklahoma § 60-175.103
What does Oklahoma Statutes § 60-175.103 cover?
Section 60-175.103 is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 60-175.103?
A common citation format is "Oklahoma Statutes § 60-175.103" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 60-175.103 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.