{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-1608.12","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-1608.12","heading":"Duty to inform and report","body":"A. A trustee shall keep the qualified beneficiaries of the\n\ntrust reasonably informed about the administration of the trust and\n\nof the material facts necessary for them to protect their interests.\n\nUnless unreasonable under the circumstances, a trustee shall\n\npromptly respond to a beneficiary's request for information related\n\nto the administration of the trust.\n\nB. A trustee:\n\n1. Upon request of a qualified beneficiary, shall promptly\n\nfurnish to the qualified beneficiary a copy of the trust instrument;\n\n2. Within sixty (60) days after accepting a trusteeship, shall\n\nnotify the qualified beneficiaries of the acceptance and of the\n\ntrustee's name, address, and telephone number;\n\n3. Within sixty (60) days after the date the trustee acquires\n\nknowledge of the creation of an irrevocable trust, or the date the\n\ntrustee acquires knowledge that a formerly revocable trust has\n\nbecome irrevocable, whether by the death of the settlor or\n\notherwise, shall notify the qualified beneficiaries of the trust's\n\nexistence, of the identity of the settlor or settlors, of the right\n\nto request a copy of the trust instrument, and of the right to a\n\ntrustee's report as provided in subsection C of this section; and\n\n4. Shall notify the qualified beneficiaries in advance of any\n\nchange in the method or rate of the trustee's compensation.\n\nC. A trustee shall send to the distributees or permissible\n\ndistributees of trust income or principal, and to other qualified\n\nbeneficiaries who request it, at least annually and at the\n\ntermination of the trust, a report of the trust property,\n\nliabilities, receipts, and disbursements, including the source and\n\namount of the trustee's compensation, a listing of the trust assets\n\nand, if feasible, their respective market values. Upon a vacancy in\n\na trusteeship, unless a co-trustee remains in office, a report must\n\nbe sent to the qualified beneficiaries by the former trustee. A\n\npersonal representative or guardian may send the qualified\n\nbeneficiaries a report on behalf of a deceased or incapacitated\n\ntrustee.\n\nD. A beneficiary may waive the right to a trustee's report or\n\nother information otherwise required to be furnished under this\n\nsection. A beneficiary, with respect to future reports and other\n\ninformation, may withdraw a waiver previously given.\n\nE. Paragraphs 2 and 3 of subsection B of this section do not\n\napply to a trustee who accepts a trusteeship before the effective\n\ndate of this act, to an irrevocable trust created before the\n\neffective date of this act, or to a revocable trust that becomes\n\nirrevocable before the effective date 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":"9784006a084ba26ce386015c227370d77242ec3870b71363b18d3674f3ff0cc9","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-1608.11","next":"us-ok/okla.-stat.-tit.-60-60-1608.13"},"notice":"GroundRules: Original legal text. Not legal advice."}