Okla. Stat. tit. 6, § 6-2026: Trust shares

Shares or deposits may be held in the name of a member in trust

for a beneficiary, or in the name of a nonmember in trust for a

beneficiary who is a member. Payment of all or part of such trust

funds to the person in whose name the shares or deposits are held

shall, to the extent of such payment, discharge the liability of the

credit union to that party and to the beneficiary, and the credit

union shall be under no obligation to see to the application of such

payment. Until the death of the person in whose name the shares or

deposits are held, that person shall possess and may exercise all

rights respecting such shares or deposits, including the power to

vote, pledge, withdraw, in whole or in part, make additions to, and

to in any way deal with said shares or deposits, unless the credit

union shall have been given written notice of the terms of any trust

agreement to the contrary. Absent such written notice, the receipt

and acquittance of the person in whose name the shares or deposits

are held shall be a valid and sufficient release and discharge of

the credit union as to any payment to that person. In the event of

the death of the person in whose name a trust account is held, where

the credit union has been given no other written notice of the terms

of any trust, the shares or deposits so held, or any part thereof,

together with dividends, or interest thereon, shall be payable to

the beneficiary and the receipt or acquittance of the beneficiary

shall be valid and sufficient release and discharge to the credit

union for any payment so made.