Oklahoma § 60-1607.4 - Vacancy in trusteeship — Appointment of successor

§ 60-1607.4. Vacancy in trusteeship — Appointment of successor

A. A vacancy in a trusteeship occurs if:

1. A person designated as trustee rejects the trusteeship;

2. A person designated as trustee cannot be identified or does

not exist;

3. A trustee resigns;

4. A trustee is disqualified or removed;

5. A trustee dies; or

6. A guardian is appointed for an individual serving as

trustee.

B. If one or more co-trustees remain in office, a vacancy in a

trusteeship need not be filled. A vacancy in a trusteeship must be

filled if the trust has no remaining trustee.

C. A vacancy in a trusteeship of a noncharitable trust that is

required to be filled must be filled in the following order of

priority:

1. By a person designated in the terms of the trust to act as

successor trustee;

2. By a person appointed by unanimous agreement of the

qualified beneficiaries; or

3. By a person appointed by the court.

D. A vacancy in a trusteeship of a charitable trust that is

required to be filled must be filled in the following order of

priority:

1. By a person designated in the terms of the trust to act as

successor trustee;

2. By a person selected by the charitable organizations

expressly designated to receive distributions under the terms of the

Oklahoma Statutes - Title 60. Property

trust if the Office of the Attorney General concurs in the

selection; or

3. By a person appointed by the court.

E. Whether or not a vacancy in a trusteeship exists or is

required to be filled, the court may appoint an additional trustee

or special fiduciary whenever the court considers the appointment

necessary for the administration of the trust.

Added by Laws 2025, c. 254, § 43, eff. Nov. 1, 2025.