Oklahoma § 60-1209 - Directed trustee — Reasonable action to comply —

§ 60-1209. Directed trustee — Reasonable action to comply —

Exceptions — Non-effective release of trustee.

A. Subject to subsection B of this section, a directed trustee

shall take reasonable action to comply with a trust director's

exercise or nonexercise of a power of direction or further power

under paragraph 1 of subsection B of Section 7 of this act, and the

trustee is not liable for the action.

B. A directed trustee must not comply with a trust director's

exercise or nonexercise of a power of direction or further power

under paragraph 1 of subsection B of Section 7 of this act to the

extent that by complying, the trustee would engage in willful

misconduct.

Oklahoma Statutes - Title 60. Property

C. An exercise of a power of direction under which a trust

director may release a trustee or another trust director from

liability for breach of trust is not effective if:

1. The breach involved the trustee's or other director's

willful misconduct;

2. The release was induced by improper conduct of the trustee

or other director in procuring the release; or

3. At the time of the release, the trust director did not know

the material facts relating to the breach.

D. A directed trustee that has reasonable doubt about its duty

under this section may petition the district court for instructions.

E. The terms of a trust may impose a duty or liability on a

directed trustee in addition to the duties and liabilities under

this section.

Added by Laws 2024, c. 369, § 10, eff. Nov. 1, 2024.