Oklahoma § 60-1403 - Task Force on Trust Administration Review and Reform

§ 60-1403. Task Force on Trust Administration Review and Reform

A. There is hereby created the Task Force on Trust

Administration Review and Reform. The Task Force shall be composed

of the following seven (7) members:

1. The Governor shall appoint three members, one of whom shall

be a member of the Oklahoma State Chamber, and one of whom shall be

a member of the Oklahoma Bankers Association;

2. The President Pro Tempore of the Oklahoma State Senate shall

appoint two members; and

3. The Speaker of the Oklahoma House of Representatives shall

appoint two members.

B. The Task Force shall review and make recommendations for

changing Oklahoma's trust administration statutes in order to

provide an efficient framework for the administration of trusts.

C. The Task Force shall provide a report to the Governor, the

President Pro Tempore of the Oklahoma State Senate, and the Speaker

of the Oklahoma House of Representatives with its recommendations

for legislation by November 1 of each year in which changes are

recommended.

D. A majority of the members shall constitute a quorum for the

purpose of conducting the business of the Task Force. The Task

Oklahoma Statutes - Title 60. Property

Force shall meet quarterly and at such other times as may be called

by the chair.

E. Members of the Task Force shall serve without compensation

but shall be reimbursed for expenses incurred in the performance of

their duties in accordance with the provisions of the State Travel

Reimbursement Act.

F. Administrative support for the Task Force including, but not

limited to, personnel necessary to ensure the proper performance of

the duties and responsibilities of the Task Force shall be provided

by the Oklahoma Legislative Office of Fiscal Transparency.

Added by Laws 2024, c. 220, § 1, eff. Nov. 1, 2024.

NOTE: Editorially renumbered from § 1201 of this title to avoid

duplication in numbering.