{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-1002","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-1002","heading":"Restrictions on acting in certain fiduciary capacities -","body":"Reciprocity.\n\nAll corporations except: (1) state banks in Oklahoma having\n\ntrust powers, national banking associations located in this state\n\nand having trust powers and trust companies incorporated under the\n\nlaws of this state and having trust powers; (2) corporations which\n\nare recognized under Section 501(c)(3) of the Internal Revenue Code\n\nas being organized and operated exclusively for educational,\n\nreligious, charitable, or other eleemosynary purposes when\n\nexercising powers pursuant to the Oklahoma Charitable Fiduciary Act\n\nand the Oklahoma General Corporation Act; and (3) national banks\n\nhaving trust powers, and state banks and trust companies having\n\ntrust powers located in states which reciprocally allow similar\n\nOklahoma institutions to exercise trust and fiduciary powers therein\n\nunder no greater restrictions than those imposed under this Code on\n\nsuch fiduciary institutions, are prohibited from acting in any of\n\nthe following fiduciary capacities within this state:\n\n1. As executor or administrator of the estate of any decedent,\n\nwhether such decedent was a resident of this state or not, and\n\nwhether the administration of the estate of such decedent be\n\noriginal or ancillary; provided, that if the executor or\n\nadministrator of the estate of a nonresident decedent be a\n\ncorporation duly authorized, qualified and acting as such executor\n\nor administrator in the jurisdiction of the domicile of the\n\ndecedent, it may, as a foreign executor or administrator, perform\n\nsuch duties and exercise such powers and privileges as are required,\n\nauthorized and permitted by Section 1001 of this title;\n\n2. As guardian of any infant, insane person or person\n\nphysically or mentally incompetent whether domiciled in this state\n\nor not;\n\n3. As trustee under any inter vivos trust, will or other\n\ntestamentary instrument, provided that any corporation which is\n\nauthorized to act as such trustee under the laws of the place where\n\nit has its principal place of business may receive bequests to it as\n\ntrustee of money or intangible personal property;\n\n4. As trustee of any real estate in this state or any interest\n\ntherein under any agreement whereby the beneficial interest in such\n\nproperty is vested in others;\n\n5. As receiver or trustee under appointment of any court in\n\nthis state;\n\n6. As assignee, receiver or trustee of any insolvent person or\n\ncorporation or under any assignment for the benefit of creditors; or\n\n7. As fiscal agent, transfer agent or registrar of any\n\nmunicipal or private corporation; provided, however, that nothing\n\nherein shall prevent any Oklahoma corporation not a bank or trust\n\ncompany and not having trust powers from being its own fiscal agent,\n\ntransfer agent or registrar concerning its own affairs, stock or\n\nsecurities.\n\nNothing in this section shall be construed as authorizing or\n\npermitting any foreign bank or trust company to maintain an office\n\nwithin this state.","path":["OK Code","Title 6"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os6.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"bb49a18e50b216a06d89c64de85285973e84053367e29575fa91aeb522af1261","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1001.1","next":"us-ok/okla.-stat.-tit.-6-6-1003"},"notice":"GroundRules: Original legal text. Not legal advice."}