→
Previous
Latest
ENGROSSED SENATE BILL NO.
An Act ENROLLED SENATE BILL NO.
Howard of the Senate and Schreiber of the House 5 An Act relating to trusts;
Howard of the Senate and Schreiber of the House An Act relating to trusts;
2025 (60 O.S.
(60 O.S.
2025 (60 O.S.
(60 O.S.
ENGR.
SUBJECT:
S.
Trusts BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
B.
NO.
2104 Page 1 2 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
The only necessary parties to such actions shall be those persons designated as beneficiaries by name or class in the instrument creating the trust and who have a vested ENGR.
The only necessary parties to such actions shall be those persons designated as beneficiaries by name or class in the instrument creating the trust and who have a vested interest in the trust which is the subject of the action include qualified beneficiaries as defined in Section 1601.3 of this title, those persons currently serving as trustees of the trust, and any persons who may be actually receiving distributions from the trust estate at the time the action is filed.
Contingent beneficiaries designated by name or class shall not be necessary parties.
ENR.
2104 Page 2 interest in the trust which is the subject of the action include qualified beneficiaries as defined in Section 1601.3 of this title, those persons currently serving as trustees of the trust, and any persons who may be actually receiving distributions from the trust estate at the time the action is filed.
2104 Page 2 D.
Contingent beneficiaries designated by name or class shall not be necessary parties.
D.
ENGR.
SECTION 2.
S.
B.
NO.
2104 Page 3 SECTION 2.
2.
ENR.
S.
B.
NO.
2104 Page 3 2.
of Title 60 of the Oklahoma Statutes or this title, the Oklahoma Charitable Fiduciary Act, Section 301.1 et ENGR.
of Title 60 of the Oklahoma Statutes or this title, the Oklahoma Charitable Fiduciary Act, Section 301.1 et seq.
S.
B.
NO.
2104 Page 4 seq.
2024 (60 O.S.
(60 O.S.
A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and includes terms and conditions that could be properly approved by the court under this act or other applicable law.
A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and ENR.
ENGR.
2104 Page 5 C.
2104 Page 4 includes terms and conditions that could be properly approved by the court under this act or other applicable law.
C.
Any qualified beneficiary or trustee may request the court to approve a nonjudicial settlement agreement, to determine whether the representation was adequate, and to determine whether the ENGR.
Any qualified beneficiary or trustee may request the court to approve a nonjudicial settlement agreement, to determine whether the representation was adequate, and to determine whether the agreement contains terms and conditions the court could have properly approved.
ENR.
2104 Page 6 agreement contains terms and conditions the court could have properly approved.
2104 Page 5 E.
E.
2025 (60 O.S.
(60 O.S.
Show all 153 changed rows (113 more)
Previous
Latest
ENGR.
4.
S.
B.
NO.
2104 Page 7 4.
7.
ENR.
S.
B.
NO.
2104 Page 6 7.
ENGR.
a.
S.
B.
NO.
2104 Page 8 a.
would be a distributee or permissible distributee of trust income or principal if the interests of the distributee described in subparagraph a of this paragraph terminated on such date, c.
would be a distributee or permissible distributee of trust income or principal if the interests of the distributee described in subparagraph a of this paragraph terminated on such date, ENR.
would be a distributee or permissible distributee of trust income or principal if the trust terminated on such date, d.
is a charitable organization expressly entitled to receive benefits under the terms of a charitable trust, or ENGR.
2104 Page 9 c.
2104 Page 7 c.
would be a distributee or permissible distributee of trust income or principal if the trust terminated on such date, d.
is a charitable organization expressly entitled to receive benefits under the terms of a charitable trust, or c.
ENGR.
(1) expressed in the trust instrument, or ENR.
2104 Page 10 (1) expressed in the trust instrument, or (2) established by other evidence that would be admissible in a judicial proceeding, or b.
2104 Page 8 (2) established by other evidence that would be admissible in a judicial proceeding, or b.
(1) a trustee or other person in accordance with applicable law, (2) a court order, or (3) a nonjudicial settlement agreement under Section 1402 of Title 60 of the Oklahoma Statutes this title;
(1) a trustee or other person in accordance with applicable law, (2) a court order, or (3) a nonjudicial settlement agreement under Section of Title 60 of the Oklahoma Statutes this title;
A provision in a will or trust that would cause a forfeiture of or void a devise or provision in favor of a person for bringing a court action contesting a will or trust, shall be enforceable unless in a court action determining whether the forfeiture clause should be enforced, the person who brought the action contrary to the ENGR.
A provision in a will or trust that would cause a forfeiture of or void a devise or provision in favor of a person for bringing a court action contesting a will or trust, shall be enforceable unless in a court action determining whether the forfeiture clause should be enforced, the person who brought the action contrary to the forfeiture clause establishes by a preponderance of the evidence that:
S.
B.
NO.
2104 Page 11 forfeiture clause establishes by a preponderance of the evidence that:
Forfeiture clauses generally shall not be construed to prevent a beneficiary from seeking to compel a fiduciary to perform the fiduciary’s duties, seeking redress against a fiduciary for a breach of the fiduciary’s duties, or seeking a judicial construction of a will or trust.
Forfeiture clauses generally shall not be construed to prevent a beneficiary from seeking to compel a fiduciary to perform the fiduciary’s duties, seeking redress against a fiduciary for a ENR.
S.
B.
NO.
2104 Page 9 breach of the fiduciary’s duties, or seeking a judicial construction of a will or trust.
2025 (60 O.S.
(60 O.S.
The provisions of ENGR.
The provisions of this subsection shall be in addition to and are not in derogation of the rights of a removed or resigning trustee under the common law.
S.
B.
NO.
2104 Page 12 this subsection shall be in addition to and are not in derogation of the rights of a removed or resigning trustee under the common law.
1.
ENR.
S.
B.
NO.
2104 Page 10 1.
ENGR.
D.
S.
B.
NO.
2104 Page 13 D.
A statement that the trustee seeks settlement of the account of the trust, including the period of time for which the trustee ENGR.
A statement that the trustee seeks settlement of the account of the trust, including the period of time for which the trustee ENR.
2104 Page 14 seeks discharge of the account of the trust, and that clearly and conspicuously states that claims against a trustee under Article 9 of the Oklahoma Uniform Trust Code relating to liability of trustees and rights of persons dealing with trustees and Sections 175.23 and 175.57 of Title 60 of the Oklahoma Statutes, if applicable, will be forever barred if no objections are received within the time period described in subsection G of this section;
2104 Page 11 seeks discharge of the account of the trust, and that clearly and conspicuously states that claims against a trustee under Article 9 of the Oklahoma Uniform Trust Code relating to liability of trustees and rights of persons dealing with trustees and Sections 175.23 and 175.57 of Title 60 of the Oklahoma Statutes, if applicable, will be forever barred if no objections are received within the time period described in subsection G of this section;
or ENGR.
or 2.
S.
B.
NO.
2104 Page 15 2.
I.
ENR.
S.
B.
NO.
2104 Page 12 I.
When a settlement of account for a trustee seeking final settlement of an interim trust account is deemed approved under this section, each person who was sent notice as provided by subsection B ENGR.
When a settlement of account for a trustee seeking final settlement of an interim trust account is deemed approved under this section, each person who was sent notice as provided by subsection B or C of this section is barred from bringing a claim against the trustee for the period of the interim trust account to the same extent and with the same preclusive effect as if the court had entered a final, unappealable order approving the trustee’s interim trust account.
S.
B.
NO.
2104 Page 16 or C of this section is barred from bringing a claim against the trustee for the period of the interim trust account to the same extent and with the same preclusive effect as if the court had entered a final, unappealable order approving the trustee’s interim trust account.
2025 (60 O.S.
(60 O.S.
1.
ENR.
S.
B.
NO.
2104 Page 13 1.
ENGR.
4.
S.
B.
NO.
2104 Page 17 4.
A person who acts in reliance upon a certification of trust under this section without knowledge that the representations contained therein are incorrect is not liable to any person for so ENGR.
A person who acts in reliance upon a certification of trust under this section without knowledge that the representations contained therein are incorrect is not liable to any person for so acting and may assume without inquiry the existence of the facts contained in the certification.
Knowledge of the terms of the trust ENR.
2104 Page 18 acting and may assume without inquiry the existence of the facts contained in the certification.
2104 Page 14 may not be inferred solely from the fact that a copy of all or part of the trust instrument is held by the person relying upon the certification.
Knowledge of the terms of the trust may not be inferred solely from the fact that a copy of all or part of the trust instrument is held by the person relying upon the certification.
2025 (60 O.S.
(60 O.S.
ENGR.
2.
S.
B.
NO.
2104 Page 19 2.
Any rule of construction or presumption provided in this act applies to trust instruments executed before the effective date of this act unless there is a clear indication of a contrary intent in the terms of the trust;
Any rule of construction or presumption provided in this act applies to trust instruments executed before the effective date of ENR.
S.
B.
NO.
2104 Page 15 this act unless there is a clear indication of a contrary intent in the terms of the trust;
This paragraph shall not be ENGR.
This paragraph shall not be construed to modify the law existing prior to the effective date of such definition.
S.
B.
NO.
2104 Page 20 construed to modify the law existing prior to the effective date of such definition.
Passed the Senate the 11th day of March, 2026.
ENR.
Presiding Officer of the Senate Passed the House of Representatives the ____ day of __________, 2026.
Presiding Officer of the House of Representatives ENGR.
2104 Page 21
2104 Page 16 Passed the Senate the 11th day of March, 2026.
Presiding Officer of the Senate Passed the House of Representatives the 6th day of May, 2026.
Presiding Officer of the House of Representatives OFFICE OF THE GOVERNOR Received by the Office of the Governor this ____________________ day of ___________________, 20_______, at _______ o'clock _______ M.
By:
_________________________________ Approved by the Governor of the State of Oklahoma this _________ day of ___________________, 20_______, at _______ o'clock _______ M.
_________________________________ Governor of the State of Oklahoma OFFICE OF THE SECRETARY OF STATE Received by the Office of the Secretary of State this __________ day of __________________, 20 _______, at _______ o'clock _______ M.
By:
_________________________________ ENR.
S.
B.
NO.
2104 Page 17
⬇ Download PDF