Oklahoma § 60-1601.8 - Principal place of administration

§ 60-1601.8. Principal place of administration

A. Without precluding other means for establishing a sufficient

connection with the designated jurisdiction, terms of a trust

designating the principal place of administration 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; or

2. All or part of the administration occurs in the designated

jurisdiction.

Oklahoma Statutes - Title 60. Property

B. A trustee is under a continuing duty to administer the trust

at a place appropriate to its purposes, its administration, and the

interests of the beneficiaries.

C. Without precluding the right of the court to order, approve,

or disapprove a transfer, the trustee, in furtherance of the duty

prescribed by subsection B of this section, may transfer the trust's

principal place of administration to another state or to a

jurisdiction outside of the United States.

D. The trustee shall notify the qualified beneficiaries of a

proposed transfer of a trust's principal place of administration not

less than sixty (60) days before initiating the transfer. The

notice of proposed transfer must include:

1. The name of the jurisdiction to which the principal place of

administration is to be transferred;

2. The address and telephone number at the new location at

which the trustee can be contacted;

3. An explanation of the reasons for the proposed transfer;

4. The date on which the proposed transfer is anticipated to

occur; and

5. The date, not less than sixty (60) days after the giving of

the notice, by which the qualified beneficiary must notify the

trustee of an objection to the proposed transfer.

E. The authority of a trustee under this section to transfer a

trust's principal place of administration terminates if a qualified

beneficiary notifies the trustee of an objection to the proposed

transfer on or before the date specified in the notice.

F. In connection with a transfer of the trust's principal place

of administration, the trustee may transfer some or all of the trust

property to a successor trustee designated in the terms of the trust

or appointed pursuant to Section 43 of this act.

Added by Laws 2025, c. 254, § 8, eff. Nov. 1, 2025.