Okla. Stat. tit. 60, § 60-175.103: Fiduciary duties - General principles

FIDUCIARY DUTIES; GENERAL PRINCIPLES

A. In allocating receipts and disbursements to or between

principal and income, and with respect to any matter within the

scope of Articles 2 and 3 of this act, a fiduciary:

1. Shall administer a trust or estate in accordance with the

terms of the trust or the will, even if there is a different

provision in this act;

2. May administer a trust or estate by the exercise of a

discretionary power of administration given to the fiduciary by the

terms of the trust or the will, even if the exercise of the power

produces a result different from a result required or permitted by

this act;

3. Shall administer a trust or estate in accordance with this

act if the terms of the trust or the will do not contain a different

provision or do not give the fiduciary a discretionary power of

administration; and

4. Shall add a receipt or charge a disbursement to principal to

the extent that the terms of the trust and this act do not provide a

rule for allocating the receipt or disbursement to or between

principal and income.

B. In exercising the power to adjust under subsection A of

Section 4 of this act or a discretionary power of administration

regarding a matter within the scope of this act, whether granted by

the terms of a trust, a will, or this act, a fiduciary shall

administer a trust or estate impartially, based on what is fair and

reasonable to all of the beneficiaries, except to the extent that

the terms of the trust or the will clearly manifest an intention

that the fiduciary shall or may favor one or more of the

beneficiaries. A determination in accordance with this act is

presumed to be fair and reasonable to all of the beneficiaries.