{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-1601.11","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-1601.11","heading":"Insurable interest of trustee","body":"A. In this section, \"settlor\" means a person that executes a\n\ntrust instrument. The term includes a person for which a fiduciary\n\nor agent is acting.\n\nB. A trustee of a trust has an insurable interest in the life\n\nof an individual insured under a life insurance policy that is owned\n\nby the trustee of the trust acting in a fiduciary capacity or that\n\ndesignates the trust itself as the owner if, on the date the policy\n\nis issued:\n\n1. The insured is:\n\na. a settlor of the trust, or\n\nb. an individual in whom a settlor of the trust has, or\n\nwould have had if living at the time the policy was\n\nissued, an insurable interest; and\n\n2. The life insurance proceeds are primarily for the benefit of\n\none or more trust beneficiaries that have:\n\na. an insurable interest in the life of the insured, or\n\nb. a substantial interest engendered by love and\n\naffection in the continuation of the life of the\n\ninsured and, if not already included under\n\nsubparagraph a of this paragraph, who are:\n\n(1) related within the third degree or closer, as\n\nmeasured by the civil law system of determining\n\ndegrees of relation, either by blood or law, to\n\nthe insured, or\n\n(2) stepchildren of the insured.\n\nThe following table identifies the relatives of an insured\n\nwithin three degrees of lineal and collateral consanguinity using\n\nthe civil law method, with each row representing a generation.\n\nGreat-\n\nGrandparents\n\n(3)\n\nGrandparents\n\n(2)\n\nParents Aunts and Uncles\n\n(1) (3)\n\nINSURED Sisters and\n\nBrothers\n\n(2)\n\nChildren Nieces and\n\n(1) Nephews\n\n(3)\n\nGrandchildren\n\n(2)\n\nGreat-\n\nGrandchildren\n\n(3)\n\nARTICLE 2\n\nJUDICIAL PROCEEDINGS","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":"06c854ba5ec2d5d944724fac302e935def488e74afe02fe551e6c8e416841a23","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-1601.10","next":"us-ok/okla.-stat.-tit.-60-60-1601.2"},"notice":"GroundRules: Original legal text. Not legal advice."}