Oklahoma § 60-1607.3 - Co-trustees

§ 60-1607.3. Co-trustees

A. Co-trustees who are unable to reach a unanimous decision may

act by majority decision.

B. If a vacancy occurs in a co-trusteeship, the remaining cotrustees may act for the trust.

C. Subject to Section 1212 of Title 60 of the Oklahoma

Statutes, a co-trustee must participate in the performance of a

trustee's function unless the co-trustee is unavailable to perform

the function because of absence, illness, disqualification under

other law, or other temporary incapacity or the co-trustee has

properly delegated the performance of the function to another

trustee.

D. If a co-trustee is unavailable to perform duties because of

absence, illness, disqualification under other law, or other

temporary incapacity, and prompt action is necessary to achieve the

purposes of the trust or to avoid injury to the trust property, the

remaining co-trustee or a majority of the remaining co-trustees may

act for the trust.

Oklahoma Statutes - Title 60. Property

E. A trustee may not delegate to a co-trustee the performance

of a function the settlor reasonably expected the trustees to

perform jointly. Unless a delegation was irrevocable, a trustee may

revoke a delegation previously made.

F. Except as otherwise provided in subsection G of this

section, a trustee who does not join in an action of another trustee

is not liable for the action.

G. Subject to Section 1212 of Title 60 of the Oklahoma

Statutes, each trustee shall exercise reasonable care to:

1. Prevent a co-trustee from committing a serious breach of

trust; and

2. Compel a co-trustee to redress a serious breach of trust.

H. A dissenting trustee who joins in an action at the direction

of the majority of the trustees and who notified any co-trustee of

the dissent at or before the time of the action is not liable for

the action unless the action is a serious breach of trust.

Added by Laws 2025, c. 254, § 42, eff. Nov. 1, 2025.