{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-2276.3","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-2276.3","heading":"Fiduciaries – Prohibited acts","body":"A. A fiduciary with respect to the Oklahoma State Park Trust\n\nFund created in Section 2 of this act, shall not cause the Trust\n\nFund to engage in a transaction if the fiduciary knows or should\n\nknow that the transaction constitutes a direct or indirect:\n\n1. Sale or exchange, or leasing of any property from the Trust\n\nFund to a party in interest;\n\n2. Lending of money or other extension of credit from the Trust\n\nFund to a party in interest;\n\n3. Furnishing of goods, services, or facilities from the Trust\n\nFund to a party in interest; or\n\n4. Transfer to, or use by or for the benefit of, a party in\n\ninterest of any assets of the Trust Fund.\n\nB. A fiduciary with respect to the Trust Fund shall not:\n\n1. Deal with the assets of the Trust Fund in the interest of or\n\nfor the account of the fiduciary;\n\n2. In the individual or any other capacity of the fiduciary act\n\nin any transaction involving the Trust Fund on behalf of a party\n\nwhose interests are adverse to the interests of the Trust Fund; or\n\n3. Receive any consideration for the personal account of the\n\nfiduciary from any party dealing with the Trust Fund in connection\n\nwith a transaction involving the assets of the Trust Fund.\n\nC. A fiduciary with respect to the Trust Fund may:\n\n1. Invest all or part of the assets of the Trust Fund in\n\ndeposits which bear the highest interest rate available for funds\n\nwith the necessary degree of availability in a bank or similar\n\nfinancial institution supervised by the United States or a state, if\n\nthe bank or other institution is a fiduciary of the plan; or\n\n2. Provide any ancillary service by a bank or similar financial\n\ninstitution supervised by the United States or a state, if the bank\n\nor other institution is a fiduciary of the plan.\n\nD. A person or a financial institution is a fiduciary with\n\nrespect to the Trust Fund to the extent that the person or the\n\nfinancial institution:\n\n1. Exercises any discretionary authority or discretionary\n\ncontrol respecting management of the Trust Fund or exercises any\n\nauthority or control respecting management or disposition of the\n\nassets of the Trust Fund;\n\n2. Renders investment advice for a fee or other compensation,\n\ndirect or indirect, with respect to any monies or other property of\n\nthe Trust Fund, or has any authority or responsibility to do so; or\n\n3. Has any discretionary authority or discretionary\n\nresponsibility in the administration of the Trust Fund.","path":["OK Code","Title 74"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os74.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"c34c961b10af5497d64f475d1d97ea40d261d9a77d902d1496648185acf66a50","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-2276.2","next":"us-ok/okla.-stat.-tit.-74-74-2277"},"notice":"GroundRules: Original legal text. Not legal advice."}