{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-1730","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-1730","heading":"Short title - Purpose","body":"A. Sections 26 through 35 of this act shall be known and may be\n\ncited as the \"State Trust Institution Charter Modernization Act\".\n\nB. The express purposes of this act are to:\n\n1. Provide for the chartering of trust companies and to permit\n\ntrust companies to act as fiduciaries and otherwise engage in the\n\ntrust business in this state, provided they are adequately\n\ncapitalized, competently managed by persons of integrity, and\n\nsupervised by the Commissioner, all in order to ensure that such\n\ntrust companies are operated in compliance with law, in a safe and\n\nsound manner and in a manner which protects their clients and\n\ncustomers and other consumers in this state;\n\n2. Improve service and reduce costs for trust institution\n\nclients and customers and other consumers in this state by\n\nmodernizing state laws to permit the delegation by trust\n\ninstitutions of fiduciary functions but not fiduciary\n\nresponsibility, authorize clients to designate any trust institution\n\nto act for them and to choose an appropriate state's law to govern\n\nfiduciary instruments and investments, and protect consumers from\n\nexcessive fees or undisclosed conflicts of interest of trust\n\ninstitutions and their affiliates; and\n\n3. Permit adequately capitalized and professionally managed\n\ntrust companies serving only family members and their affiliated\n\nentities to operate as private trust companies which may not provide\n\nservices to the general public.","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":"3290f9d6adea92b2cd3a194c002e9850f64d33169271301bd68cb535636c24b4","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1725","next":"us-ok/okla.-stat.-tit.-6-6-1731"},"notice":"GroundRules: Original legal text. Not legal advice."}