{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-1402","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-1402","heading":"Binding nonjudicial settlement agreements — Validity","body":"A. Except as otherwise provided in subsection B of this\n\nsection, the trustee and the qualified beneficiaries may enter into\n\na binding nonjudicial settlement agreement with respect to any\n\nmatter involving a trust.\n\nB. A nonjudicial settlement agreement is valid only to the\n\nextent it does not violate a material purpose of the trust and\n\nincludes terms and conditions that could be properly approved by the\n\ncourt under this act or other applicable law.\n\nC. Matters that may be resolved by a nonjudicial settlement\n\nagreement include, but are not limited to:\n\n1. The interpretation or construction of the terms of the\n\ntrust;\n\n2. The approval of a trustee's report or accounting;\n\n3. Direction to a trustee to refrain from performing a\n\nparticular act or the grant to a trustee of any necessary or\n\ndesirable power;\n\n4. The resignation or appointment of a trustee and the\n\ndetermination of a trustee's compensation;\n\n5. Transfer of a trust's principal place of administration;\n\n6. Liability of a trustee for an action relating to the trust;\n\n7. The extent or waiver of bond of a trustee;\n\n8. The governing law of the trust;\n\n9. The criteria for distribution to a beneficiary where the\n\ntrustee is given discretion;\n\n10. The resignation, appointment, and establishment of the\n\npowers and duties of trust protectors or trust advisors; and\n\n11. The approval of an investment decision, delegation, policy,\n\nplan, or program.\n\nD. Any qualified beneficiary or trustee may request the court\n\nto approve a nonjudicial settlement agreement, to determine whether\n\nthe representation was adequate, and to determine whether the\n\nagreement contains terms and conditions the court could have\n\nproperly approved.","path":["OK Code","Title 60"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os60.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"c19179a9e73e3b6a27a26aed6903b2e615714c52e2a4406b8689db5719137139","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-1401","next":"us-ok/okla.-stat.-tit.-60-60-1403"},"notice":"GroundRules: Original legal text. Not legal advice."}