{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-301.3","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-301.3","heading":"Definitions","body":"As used in the Oklahoma Charitable Fiduciary Act:\n\n1. \"Charitable organization\" means an incorporated or\n\nunincorporated organization:\n\na. domiciled in the State of Oklahoma,\n\nb. recognized under Section 501(c)(3) of the Internal\n\nRevenue Code as being organized and operated\n\nexclusively for charitable, religious, educational, or\n\nother eleemosynary purposes,\n\nc. which has been in existence for at least five (5)\n\nyears if the organization administers charitable\n\ntrusts which benefit private individuals,\n\nd. having a governing board of which a majority of its\n\nmembers are persons who are qualified by education or\n\nexperience to provide direction of the charitable\n\norganization in the administration of its charitable\n\ntrusts,\n\ne. having a governing board of which at least forty\n\npercent (40%) of its members are residents of the\n\nState of Oklahoma, provided that upon proper\n\napplication the Attorney General may waive this\n\nrequirement, and\n\nf. which has filed the comprehensive annual audit\n\nrequired by Section 301.9 of this title;\n\n2. \"Charitable trust\" means:\n\na. a trust which qualifies as a charitable remainder\n\nunitrust under the Internal Revenue Code,\n\nb. a trust which qualifies as a charitable remainder\n\nannuity trust under the Internal Revenue Code,\n\nc. a trust which is described as a charitable lead trust\n\nin the Internal Revenue Code,\n\nd. a fund which qualifies as a pooled income fund under\n\nthe Internal Revenue Code,\n\ne. an endowment fund as that term is defined in the\n\nUniform Prudent Management of Institutional Funds Act,\n\nf. a trust providing for the welfare, maintenance,\n\nsupport, and education of minor issue of a decedent\n\nwho has made a gift in the document creating the trust\n\nfor the benefit of the minor issue to the charitable\n\norganization administering the trust or one or more of\n\nits affiliated charitable organizations at the\n\ndecedent's death and the total of all gifts made to\n\nthe charitable organization administering the trust or\n\none or more of its affiliated charitable organizations\n\nat the decedent's death is as large as the largest\n\ndistribution made to another person who is not a\n\ncharitable organization, but in no event shall the\n\ntotal of all gifts made to the charitable organization\n\nadministering the trust or one or more of its\n\naffiliated charitable organizations be less than\n\ntwenty-five percent (25%) of the property which is\n\navailable for distribution, or\n\ng. any other irrevocable or revocable trust in which:\n\n(1) one or more gifts of either trust income or\n\nprincipal, whether outright or in trust, are\n\nirrevocably made to or for the benefit of a\n\ncharitable organization,\n\n(2) if the irrevocable gift is of income or principal\n\nwhich is distributed before the termination of\n\nthe trust, the total of all such irrevocable\n\ngifts of income or principal made to the\n\ncharitable organization administering the trust\n\nor one or more of its affiliated charitable\n\norganizations is as large as the largest\n\ndistribution to another beneficiary entitled to\n\nreceive distributions of income or principal from\n\nthe trust before the termination of the trust who\n\nis not the charitable organization administering\n\nthe trust or an affiliated charitable\n\norganization, but in no event shall the total of\n\nall such irrevocable gifts of income or principal\n\nmade to the charitable organization administering\n\nthe trust or one or more of its affiliated\n\ncharitable organizations before the termination\n\nof the trust be less than twenty-five percent\n\n(25%) of the income or principal available for\n\ndistribution from the trust,\nin no event shall the total of\n\nall such irrevocable gifts of income or principal\n\nmade to the charitable organization administering\n\nthe trust or one or more of its affiliated\n\ncharitable organizations before the termination\n\nof the trust be less than twenty-five percent\n\n(25%) of the income or principal available for\n\ndistribution from the trust,\n\n(3) if the irrevocable gift is of the remainder of\n\nthe trust which is distributed upon the\n\ntermination of the trust, the total of all\n\nirrevocable gifts of the remainder of the trust\n\nmade to the charitable organization administering\n\nthe trust or one or more of its affiliated\n\ncharitable organizations is as large as the\n\nlargest distribution made to another remainderman\n\nwho is not the charitable organization\n\nadministering the trust or an affiliated\n\ncharitable organization, but in no event shall\n\nthe total of all irrevocable gifts of the\n\nremainder of the trust made to the charitable\n\norganization administering the trust or one or\n\nmore of its affiliated charitable organizations\n\nbe less than twenty-five percent (25%) of the\n\nremainder of the trust which is available for\n\ndistribution at the termination of the trust, and\n\n(4) if distributions of income from the trust are\n\nmade to beneficiaries who are not charitable\n\norganizations, such distributions are in an\n\namount specified by the donor in the governing\n\ninstrument, or, if not in an amount specified by\n\nthe donor in the governing instrument, are in an\n\namount not less than five percent (5%) of the\n\nvalue of the principal of the trust determined\n\nannually, reduced by distributions of current\n\nincome from the trust to charitable\n\norganizations, if any; and\n\n3. \"Affiliated charitable organization\" means another\n\ncharitable organization which directly or indirectly controls or is\n\nunder direct or indirect common control with the charitable\n\norganization acting in a fiduciary capacity.","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":"78a6907ba9173e0b0fbe01c9459ffc33c87455de22ace3f85e2a9f10dbdae9ba","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-301.2","next":"us-ok/okla.-stat.-tit.-60-60-301.4"},"notice":"GroundRules: Original legal text. Not legal advice."}