Oklahoma § 60-1203 - Scope and application

§ 60-1203. Scope and application

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.

Added by Laws 2024, c. 369, § 4, eff. Nov. 1, 2024.