{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-301.5","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-301.5","heading":"Charitable organizations authorized to exercise certain","body":"powers as trustees.\n\nIn addition to the powers conferred on fiduciaries by the\n\nOklahoma Trust Act, the Uniform Prudent Management of Institutional\n\nFunds Act, and the Oklahoma Uniform Prudent Investor Act, all\n\ncharitable organizations acting as trustees of charitable trusts\n\nshall expressly be permitted to exercise the following powers:\n\n1. To limit the investment of property received in trust to\n\ninvestments in real or personal property; securities including\n\nbonds, stocks, all kinds of negotiable and nonnegotiable paper; and\n\nother investment instruments, which are consistent with the\n\ncharitable, religious, educational, or other eleemosynary purposes\n\nof the charitable organization;\n\n2. To make distributions from an institutional endowment fund\n\nas that term is defined in the Uniform Prudent Management of\n\nInstitutional Funds Act in a manner that will provide a consistent\n\nsource of funds to charitable organizations benefited by such\n\ncharitable trusts;\n\n3. For assets held in an institutional endowment fund as that\n\nterm is defined in the Uniform Prudent Management of Institutional\n\nFunds Act, to invest in loans of money upon adequate collateral\n\nsecurity to affiliated charitable organizations provided that the\n\ncharitable organization serving in a fiduciary capacity conforms to\n\nthe standard for care set forth in the document creating the trust\n\nor, in the absence of a standard of care in the document creating\n\nthe trust, to the standard of care for fiduciaries as set forth in\n\nthe Oklahoma Trust Code, the Uniform Prudent Management of\n\nInstitutional Funds Act, and the Oklahoma Uniform Prudent Investor\n\nAct, and provided further that the loan furthers the charitable,\n\nreligious, educational and other eleemosynary purposes of the\n\naffiliated charitable organization;\n\n4. To recover costs and expenses to include a reasonable charge\n\nfor administrative overhead incurred in administering charitable\n\ntrusts to include costs incurred for investment counselors, advisors\n\nand agents; and\n\n5. To delegate the investment of assets of charitable trusts\n\nand the administration of charitable trusts to state banks in\n\nOklahoma having trust powers, national banking associations having\n\ntrust powers, and trust companies having trust powers.","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":"69c83d236c9a39781a7961f638d64ba9e5a2ecd629ca67d129e8af059374e2f2","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-301.4","next":"us-ok/okla.-stat.-tit.-60-60-301.6"},"notice":"GroundRules: Original legal text. Not legal advice."}