{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-175.406","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-175.406","heading":"Obligation to pay money","body":"OBLIGATION TO PAY MONEY\n\nA. An amount received as interest, whether determined at a\n\nfixed, variable, or floating rate, on an obligation to pay money to\n\nthe trustee, including an amount received as consideration for\n\nprepaying principal, must be allocated to income without any\n\nprovision for amortization of premium.\n\nB. A trustee shall allocate to principal an amount received\n\nfrom the sale, redemption, or other disposition of an obligation to\n\npay money to the trustee more than one year after it is purchased or\n\nacquired by the trustee, including an obligation the purchase price\n\nor value of which when it is acquired is less than its value at\n\nmaturity. If the obligation matures within one (1) year after it is\n\npurchased or acquired by the trustee, an amount received in excess\n\nof its purchase price or its value when acquired by the trust must\n\nbe allocated to income.\n\nC. This section does not apply to obligations to which Section\n\n18, 19, 20, 21, 23, or 24 of this act applies.","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":"6f535c0027401cf8da2929595396a425c68263954b4c2334a5a4589e64875a88","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-175.405","next":"us-ok/okla.-stat.-tit.-60-60-175.407"},"notice":"GroundRules: Original legal text. Not legal advice."}