{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-175.414","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-175.414","heading":"Derivatives and options","body":"DERIVATIVES AND OPTIONS\n\nA. In this section, \"derivative\" means a contract or financial\n\ninstrument or a combination of contracts and financial instruments\n\nwhich gives a trust the right or obligation to participate in some\n\nor all changes in the price of a tangible or intangible asset or\n\ngroup of assets, or changes in a rate, an index of prices or rates,\n\nor other market indicator for an asset or a group of assets.\n\nB. To the extent that a trustee accounts for transactions in\n\nderivatives pursuant to this section, the trustee shall allocate to\n\nprincipal receipts from and disbursements made in connection with\n\nthose transactions.\n\nC. If a trustee grants an option to buy property from the\n\ntrust, whether or not the trust owns the property when the option is\n\ngranted, grants an option that permits another person to sell\n\nproperty to the trust, or acquires an option to buy property for the\n\ntrust or an option to sell an asset owned by the trust, and the\n\ntrustee or other owner of the asset is required to deliver the asset\n\nif the option is exercised, an amount received for granting the\n\noption must be allocated to principal. An amount paid to acquire\n\nthe option must be paid from principal. A gain or loss realized\n\nupon the exercise of an option, including an option granted to a\n\nsettlor of the trust for services rendered, must be allocated to\n\nprincipal.","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":"1f54c1f696abcdfe99ef8f29a17bc9cf9b42e5e854c7474aca6020586a9962e7","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-175.413","next":"us-ok/okla.-stat.-tit.-60-60-175.415"},"notice":"GroundRules: Original legal text. Not legal advice."}