{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-1706","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-1706","heading":"Certain activities not requiring charter","body":"Notwithstanding any other provision of the Multistate Trust\n\nInstitutions Act, a company does not engage in the trust business or\n\nin any other business in a manner requiring a charter, license or\n\nregistration under this act or in an unauthorized trust activity by:\n\n1. Acting in a manner authorized by law and in the scope of\n\nauthority as an agent of a trust institution with respect to an\n\nactivity which is not an unauthorized trust activity;\n\n2. Rendering a service customarily performed as an attorney or\n\nlaw firm in a manner approved and authorized by the Supreme Court of\n\nthis state;\n\n3. Acting as trustee under a deed of trust delivered only as\n\nsecurity for the payment of money or for the performance of another\n\nact;\n\n4. Engaging in the sale of title insurance regulated by the\n\nState Insurance Commission;\n\n5. Receiving and distributing rents and proceeds of a sale as a\n\nlicensed real estate broker on behalf of a principal in a manner\n\nauthorized by state law;\n\n6. Engaging in a securities transaction or providing an\n\ninvestment advisory service as a licensed and registered broker-\n\ndealer, investment advisor or registered representative thereof,\n\nprovided the activity is regulated by the State Securities\n\nCommission or the Securities and Exchange Commission;\n\n7. Engaging in the sale and administration of an insurance\n\nproduct by an insurance company or agent licensed by the Insurance\n\nDepartment to the extent that the activity is regulated by the\n\nInsurance Department;\n\n8. Engaging in the lawful sale of prepaid funeral benefits\n\nunder a permit issued by the Oklahoma Funeral Board under state law,\n\nor engaging in the lawful business of a perpetual care cemetery\n\ncorporation under state law;\n\n9. Acting as trustee under a voting trust as provided by law;\n\n10. Acting as trustee by a public, private, or independent\n\ninstitution of higher education or a university system, as those\n\nterms are defined by law, including its affiliated foundations or\n\ncorporations, with respect to endowment funds or other funds owned,\n\ncontrolled, provided to or otherwise made available to such\n\ninstitution with respect to its educational or research purposes;\n\n11. Engaging in other activities expressly excluded from the\n\napplication of this act by rule of the Department;\n\n12. Rendering services customarily performed by a certified\n\npublic accountant in a manner authorized by the Oklahoma Accountancy\n\nBoard;\n\n13. Exercising powers pursuant to the Oklahoma Charitable\n\nFiduciary Act, and the company is a corporation which is recognized\n\npursuant to Section 501(c)(3) of the Internal Revenue Code as being\n\norganized and operated exclusively for educational, religious,\n\ncharitable, or other eleemosynary purposes;\n\n14. Provided the company is a trust institution and is not\n\nbarred by order of the Commissioner from engaging in a trust\n\nbusiness in this state pursuant to paragraph 2 of Section 1724 of\n\nthis title:\n\na. marketing or soliciting in this state through the\n\nmails, telephone, any electronic means or in person\n\nwith respect to acting or proposing to act as a\n\nfiduciary outside of this state,\n\nb. delivering money or other intangible assets and\n\nreceiving the same from a client or other person in\n\nthis state, or\n\nc. accepting or executing outside of this state a trust\n\nof any client or otherwise acting as a fiduciary\n\noutside of this state for any client; and\n\n15. Acting as trustee of a trust company formed pursuant to the\n\nlaws of the state, and the sole purpose of which is to hold and\n\ntransfer title of aircraft registration or to be registered with the\n\nFederal Aviation Administration; provided the company shall maintain\n\na performance bond of Fifty Thousand Dollars ($50,000.00) or more.","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":"9ecc016711d9067b3683671e5c3ddff6a268be463aee443213d9f944735c43ac","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1705","next":"us-ok/okla.-stat.-tit.-6-6-1707"},"notice":"GroundRules: Original legal text. Not legal advice."}