{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-175.407","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-175.407","heading":"Insurance policies and similar contracts","body":"INSURANCE POLICIES AND SIMILAR CONTRACTS\n\nA. Except as otherwise provided in subsection B of this\n\nsection, a trustee shall allocate to principal the proceeds of a\n\nlife insurance policy or other contract in which the trust or its\n\ntrustee is named as beneficiary, including a contract that insures\n\nthe trust or its trustee against loss for damage to, destruction of,\n\nor loss of title to a trust asset. The trustee shall allocate\n\ndividends on an insurance policy to income if the premiums on the\n\npolicy are paid from income, and to principal if the premiums are\n\npaid from principal.\n\nB. A trustee shall allocate to income proceeds of a contract\n\nthat insures the trustee against loss of occupancy or other use by\n\nan income beneficiary, loss of income, or, subject to Section 12 of\n\nthis act, loss of profits from a business.\n\nC. This section does not apply to a contract to which Section\n\n18 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":"71d78c53225339ee49cefab02b08e04d569c34dcc8ff1f01e9f57701496c97ae","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-175.406","next":"us-ok/okla.-stat.-tit.-60-60-175.408"},"notice":"GroundRules: Original legal text. Not legal advice."}