{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-2026","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-2026","heading":"Trust shares","body":"Shares or deposits may be held in the name of a member in trust\n\nfor a beneficiary, or in the name of a nonmember in trust for a\n\nbeneficiary who is a member. Payment of all or part of such trust\n\nfunds to the person in whose name the shares or deposits are held\n\nshall, to the extent of such payment, discharge the liability of the\n\ncredit union to that party and to the beneficiary, and the credit\n\nunion shall be under no obligation to see to the application of such\n\npayment. Until the death of the person in whose name the shares or\n\ndeposits are held, that person shall possess and may exercise all\n\nrights respecting such shares or deposits, including the power to\n\nvote, pledge, withdraw, in whole or in part, make additions to, and\n\nto in any way deal with said shares or deposits, unless the credit\n\nunion shall have been given written notice of the terms of any trust\n\nagreement to the contrary. Absent such written notice, the receipt\n\nand acquittance of the person in whose name the shares or deposits\n\nare held shall be a valid and sufficient release and discharge of\n\nthe credit union as to any payment to that person. In the event of\n\nthe death of the person in whose name a trust account is held, where\n\nthe credit union has been given no other written notice of the terms\n\nof any trust, the shares or deposits so held, or any part thereof,\n\ntogether with dividends, or interest thereon, shall be payable to\n\nthe beneficiary and the receipt or acquittance of the beneficiary\n\nshall be valid and sufficient release and discharge to the credit\n\nunion for any payment so made.","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":"e2529cbc9858f345c113003c3f22171c4e27d9e07d3e7044c0bb216bf8a8fb59","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-2025","next":"us-ok/okla.-stat.-tit.-6-6-2027"},"notice":"GroundRules: Original legal text. Not legal advice."}