{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-176.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-176.1","heading":"Presumptions and conditions - Relationship of trust and","body":"beneficiary.\n\nA. Except as provided in subsection F of this section and if\n\nthe conditions set out in subsection B of this section are satisfied\n\nin compliance with Section 176 et seq. of this title, a public trust\n\nduly created in accordance with the provisions of Section 176 et\n\nseq. of this title shall be presumed for all purposes of Oklahoma\n\nlaw to:\n\n1. Exist for the public benefit;\n\n2. Exist as a legal entity separate and distinct from the\n\nsettlor and from the governmental entity that is its beneficiary;\n\nand\n\n3. Act on behalf and in the furtherance of a public function or\n\nfunctions for which it is created even though facilities financed by\n\nthe public trust or in which the public trust has an ownership\n\ninterest may be operated by private persons or entities pursuant to\n\ncontract.\n\nB. The conditions to be satisfied as required in subsection A\n\nof this section are as follows:\n\n1. The trustees of the public trust are appointed by the\n\ngoverning body of the beneficiary or beneficiaries or as otherwise\n\nprovided by law. This paragraph shall not apply to public trusts in\n\nexistence as of July 1, 1992;\n\n2. The public trust delivers to the governing body of the\n\nbeneficiaries, or in the case of the state as beneficiary, to the\n\nState Auditor and Inspector, annual audits as provided in Section\n\n180.1 of this title;\n\n3. With respect to city or county beneficiary public trusts,\n\nthe function or enterprise in which the public trust is engaged is\n\nor could be authorized by state law to be performed by the\n\nbeneficiary; and\n\n4. With respect to city or county beneficiary public trusts,\n\nall indebtedness incurred by the public trust is approved by the\n\ngoverning body of the beneficiary as provided in subsection E of\n\nSection 176 of this title.\n\nC. The existence of a contract for the operation or management\n\nof the facility financed by the public trust is hereby declared to\n\nbe in furtherance of the public purpose of the public trust and\n\nshall not affect the validity of such public trust.\n\nD. Except where the provisions of the trust indenture or of\n\nSection 176 et seq. of this title, or of any other law written\n\nspecifically to govern the affairs of public trusts, expressly\n\nrequires otherwise, the affairs of the public trust shall be\n\nseparate and independent from the affairs of the beneficiary in all\n\nmatters or activities authorized by the written instrument creating\n\nsuch public trust including, but not limited to, the public trust's\n\nbudget, expenditures, revenues and general operation and management\n\nof its facilities or functions; provided, that either the public\n\ntrust or the beneficiary may make payment of money to the other\n\nunless prohibited by the written instrument creating such public\n\ntrust or by existing state law.\n\nE. For all purposes of Oklahoma law, the existence and validity\n\nof any public trust shall be determined and established solely by\n\nthe provisions of the written instrument creating such public trust,\n\nand by the provisions of Section 176 et seq. of this title and of\n\nany other law written specifically to create a public trust.\n\nActions taken or omitted by the trustees of a public trust shall not\n\naffect the existence or validity of the entity as a public trust but\n\nshall be subject to subsequent review or ratification by said\n\ntrustees or to correction by the district court in a proper\n\nproceeding.\n\nF. Nothing in this section shall affect coverage of any entity\n\nunder The Governmental Tort Claims 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":"2e60a1269ea1456eafd868b101b4c3266c21fe939e456d27881407a0e16e98e5","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-176","next":"us-ok/okla.-stat.-tit.-60-60-177"},"notice":"GroundRules: Original legal text. Not legal advice."}