Oklahoma § 60-175.408
Full text of Oklahoma Oklahoma Statutes § 60-175.408, with citation guidance and answers to common questions.
§ 60-175.408.
Insubstantial allocations not required.
INSUBSTANTIAL ALLOCATIONS NOT REQUIRED
If a trustee determines that an allocation between principal and
income required by Section 18, 19, 20, 21, or 24 of this act is
insubstantial, the trustee may allocate the entire amount to
principal unless one of the circumstances described in subsection C
of Section 4 of this act applies to the allocation. This power may
be exercised by a cotrustee in the circumstances described in
subsection D of Section 4 of this act and may be released for the
reasons and in the manner described in subsection E of Section 4 of
this act. An allocation is presumed to be insubstantial if:
1. The amount of the allocation would increase or decrease net
income in an accounting period, as determined before the allocation,
by less than ten percent (10%); or
2. The value of the asset producing the receipt for which the
allocation would be made is less than ten percent (10%) of the total
value of the trust's assets at the beginning of the accounting
period.
Added by Laws 1998, c. 115, § 17, eff. Nov. 1, 1998.
Frequently Asked Questions About Oklahoma § 60-175.408
What does Oklahoma Statutes § 60-175.408 cover?
Section 60-175.408 is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 60-175.408?
A common citation format is "Oklahoma Statutes § 60-175.408" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 60-175.408 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.