Okla. Stat. tit. 60, § 60-301.5: Charitable organizations authorized to exercise certain

powers as trustees.

In addition to the powers conferred on fiduciaries by the

Oklahoma Trust Act, the Uniform Prudent Management of Institutional

Funds Act, and the Oklahoma Uniform Prudent Investor Act, all

charitable organizations acting as trustees of charitable trusts

shall expressly be permitted to exercise the following powers:

1. To limit the investment of property received in trust to

investments in real or personal property; securities including

bonds, stocks, all kinds of negotiable and nonnegotiable paper; and

other investment instruments, which are consistent with the

charitable, religious, educational, or other eleemosynary purposes

of the charitable organization;

2. To make distributions from an institutional endowment fund

as that term is defined in the Uniform Prudent Management of

Institutional Funds Act in a manner that will provide a consistent

source of funds to charitable organizations benefited by such

charitable trusts;

3. For assets held in an institutional endowment fund as that

term is defined in the Uniform Prudent Management of Institutional

Funds Act, to invest in loans of money upon adequate collateral

security to affiliated charitable organizations provided that the

charitable organization serving in a fiduciary capacity conforms to

the standard for care set forth in the document creating the trust

or, in the absence of a standard of care in the document creating

the trust, to the standard of care for fiduciaries as set forth in

the Oklahoma Trust Code, the Uniform Prudent Management of

Institutional Funds Act, and the Oklahoma Uniform Prudent Investor

Act, and provided further that the loan furthers the charitable,

religious, educational and other eleemosynary purposes of the

affiliated charitable organization;

4. To recover costs and expenses to include a reasonable charge

for administrative overhead incurred in administering charitable

trusts to include costs incurred for investment counselors, advisors

and agents; and

5. To delegate the investment of assets of charitable trusts

and the administration of charitable trusts to state banks in

Oklahoma having trust powers, national banking associations having

trust powers, and trust companies having trust powers.