{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-1601.5","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-1601.5","heading":"Default and mandatory rules","body":"A. Except as otherwise provided in the terms of the trust, this\n\nact governs the duties and powers of a trustee, relations among\n\ntrustees, and the rights and interests of a beneficiary.\n\nB. The terms of a trust prevail over any provision of this act\n\nexcept:\n\n1. The requirements for creating a trust;\n\n2. Subject to the Oklahoma Uniform Directed Trust Act, Sections\n\n1209, 1211, and 1212 of Title 60 of the Oklahoma Statutes, the duty\n\nof a trustee to act in good faith and in accordance with the terms\n\nand purposes of the trust and the interests of the beneficiaries;\n\n3. The requirement that a trust and its terms be for the\n\nbenefit of its beneficiaries, and that the trust have a purpose that\n\nis lawful, not contrary to public policy, and possible to achieve;\n\n4. The power of the court to modify or terminate a trust under\n\nSections 28 through 34 of this act;\n\n5. The effect of a spendthrift provision and the rights of\n\ncertain creditors and assignees to reach a trust as provided in\n\nSection 36 of this act;\n\n6. The power of the court under Section 41 of this act to\n\nrequire, dispense with, or modify or terminate a bond;\n\n7. The power of the court under subsection B of Section 47 of\n\nthis act to adjust a trustee's compensation specified in the terms\n\nof the trust which is unreasonably low or high;\n\n8. The duty under paragraphs 2 and 3 of Section 60 of this act\n\nto notify qualified beneficiaries of an irrevocable trust who have\n\nattained twenty-five (25) years of age of the existence of the\n\ntrust, of the identity of the trustee, and of their right to request\n\ntrustee's reports;\n\n9. The duty under subsection A of Section 60 of this act to\n\nrespond to the request of a qualified beneficiary of an irrevocable\n\ntrust for trustee's reports and other information reasonably related\n\nto the administration of a trust;\n\n10. The rights under Sections 68 through 71 of this act of a\n\nperson other than a trustee or beneficiary;\n\n11. Periods of limitation for commencing a judicial proceeding;\n\n12. The power of the court to take such action and exercise\n\nsuch jurisdiction as may be necessary in the interests of justice;\n\nand\n\n13. The subject matter jurisdiction of the court and venue for\n\ncommencing a proceeding as provided in Section 14 of this act.","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":"00e3f64d6a9d7988655d4e321feb7215d6dd19ffc0cc38300180bc3e5d737dc1","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-1601.4","next":"us-ok/okla.-stat.-tit.-60-60-1601.6"},"notice":"GroundRules: Original legal text. Not legal advice."}