{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-395","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-395","heading":"Powers of cotrustees","body":"\n\nThe cotrustees of a trust estate resulting hereunder are hereby\n\nauthorized and empowered to manage such trust estate and all money\n\nand property belonging thereto; to rent or to lease any of the real\n\nproperty for the purpose of exploring for and extracting any\n\nminerals, including oil and gas, as well as for other purposes; and\n\nto sell or otherwise convert any of the property into cash; in such\n\nmanner, for such price, and upon such terms and conditions as they\n\ndeem to be for the best interest of the trust estate; and, for such\n\npurposes, to execute and deliver such written instruments as may be\n\nrequired.\n\nSuch cotrustees are also authorized and empowered to use any\n\nmoney and property of the trust estate for the construction of\n\npublic improvements in the town or city, or in the county,\n\ndesignated in such gift, for the purpose of sites and rights-of-way\n\nfor public improvements in such town or city, or in such county, and\n\nfor repairs and additions to existing public improvements within\n\nsuch city or town, or within such county; and, where necessary to\n\nthe use of funds from other sources for the construction of public\n\nimprovements upon any real property in such county belonging to such\n\ntrust estate, may, in their discretion, convey the title to such\n\nreal property to any one of the governmental units having a\n\nbeneficial interest in such trust estate, for such public\n\nimprovement purposes, without further consideration.\n\nSuch cotrustees shall be the exclusive judges of the public\n\nimprovements to be made or aided from such trust estate. They are\n\nalso authorized to enter into any contracts, including construction\n\ncontracts, which they deem to be proper in the performance of their\n\nduties hereunder, and to employ and fix the compensation for such\n\nhelp and assistance, professional or otherwise, as they deem\n\nnecessary to carry out the policies determined by them hereunder,\n\nand to pay the same from the trust fund account provided for herein.\n\nSuch cotrustees may be sued, and, in their discretion, may sue, in\n\nany matters relating to such trust estate or growing out of the\n\nadministration thereof, and may employ attorneys in connection with\n\nany such matters, but shall not personally be civilly liable for\n\ndamages or attorneys' fees except upon criminal or culpable\n\nmisconduct. Any official act or action by such cotrustees shall\n\nrequire the joinder of all three trustees.","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":"a5bef873e4391780f53a0acac81f222dec818593328a5c566306e1fb2094b517","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-394","next":"us-ok/okla.-stat.-tit.-60-60-396"},"notice":"GroundRules: Original legal text. Not legal advice."}