Okla. Stat. tit. 60, § 60-301.3: Definitions

As used in the Oklahoma Charitable Fiduciary Act:

1. "Charitable organization" means an incorporated or

unincorporated organization:

a. domiciled in the State of Oklahoma,

b. recognized under Section 501(c)(3) of the Internal

Revenue Code as being organized and operated

exclusively for charitable, religious, educational, or

other eleemosynary purposes,

c. which has been in existence for at least five (5)

years if the organization administers charitable

trusts which benefit private individuals,

d. having a governing board of which a majority of its

members are persons who are qualified by education or

experience to provide direction of the charitable

organization in the administration of its charitable

trusts,

e. having a governing board of which at least forty

percent (40%) of its members are residents of the

State of Oklahoma, provided that upon proper

application the Attorney General may waive this

requirement, and

f. which has filed the comprehensive annual audit

required by Section 301.9 of this title;

2. "Charitable trust" means:

a. a trust which qualifies as a charitable remainder

unitrust under the Internal Revenue Code,

b. a trust which qualifies as a charitable remainder

annuity trust under the Internal Revenue Code,

c. a trust which is described as a charitable lead trust

in the Internal Revenue Code,

d. a fund which qualifies as a pooled income fund under

the Internal Revenue Code,

e. an endowment fund as that term is defined in the

Uniform Prudent Management of Institutional Funds Act,

f. a trust providing for the welfare, maintenance,

support, and education of minor issue of a decedent

who has made a gift in the document creating the trust

for the benefit of the minor issue to the charitable

organization administering the trust or one or more of

its affiliated charitable organizations at the

decedent's death and the total of all gifts made to

the charitable organization administering the trust or

one or more of its affiliated charitable organizations

at the decedent's death is as large as the largest

distribution made to another person who is not a

charitable organization, but in no event shall the

total of all gifts made to the charitable organization

administering the trust or one or more of its

affiliated charitable organizations be less than

twenty-five percent (25%) of the property which is

available for distribution, or

g. any other irrevocable or revocable trust in which:

(1) one or more gifts of either trust income or

principal, whether outright or in trust, are

irrevocably made to or for the benefit of a

charitable organization,

(2) if the irrevocable gift is of income or principal

which is distributed before the termination of

the trust, the total of all such irrevocable

gifts of income or principal made to the

charitable organization administering the trust

or one or more of its affiliated charitable

organizations is as large as the largest

distribution to another beneficiary entitled to

receive distributions of income or principal from

the trust before the termination of the trust who

is not the charitable organization administering

the trust or an affiliated charitable

organization, but in no event shall the total of

all such irrevocable gifts of income or principal

made to the charitable organization administering

the trust or one or more of its affiliated

charitable organizations before the termination

of the trust be less than twenty-five percent

(25%) of the income or principal available for

distribution from the trust,

in no event shall the total of

all such irrevocable gifts of income or principal

made to the charitable organization administering

the trust or one or more of its affiliated

charitable organizations before the termination

of the trust be less than twenty-five percent

(25%) of the income or principal available for

distribution from the trust,

(3) if the irrevocable gift is of the remainder of

the trust which is distributed upon the

termination of the trust, the total of all

irrevocable gifts of the remainder of the trust

made to the charitable organization administering

the trust or one or more of its affiliated

charitable organizations is as large as the

largest distribution made to another remainderman

who is not the charitable organization

administering the trust or an affiliated

charitable organization, but in no event shall

the total of all irrevocable gifts of the

remainder of the trust made to the charitable

organization administering the trust or one or

more of its affiliated charitable organizations

be less than twenty-five percent (25%) of the

remainder of the trust which is available for

distribution at the termination of the trust, and

(4) if distributions of income from the trust are

made to beneficiaries who are not charitable

organizations, such distributions are in an

amount specified by the donor in the governing

instrument, or, if not in an amount specified by

the donor in the governing instrument, are in an

amount not less than five percent (5%) of the

value of the principal of the trust determined

annually, reduced by distributions of current

income from the trust to charitable

organizations, if any; and

3. "Affiliated charitable organization" means another

charitable organization which directly or indirectly controls or is

under direct or indirect common control with the charitable

organization acting in a fiduciary capacity.