Okla. Stat. tit. 6 § 1705

Current through Laws 2024, c. 453.

Section 1705 - Companies authorized to act as fiduciary

A. No company shall act as a fiduciary in this state except:

1. A state trust company;

2. A state bank;

3. A savings association organized under the laws of this state and authorized to act as a fiduciary pursuant to state law;

4. A national bank having its principal office in this state and authorized by the Comptroller of the Currency to act as a fiduciary pursuant to 12 U.S.C., Section 92a;

5. A federally chartered savings association having its principal office in this state and authorized by its federal chartering authority to act as a fiduciary;

6. An out-of-state bank with a branch in this state established or maintained pursuant to the laws of this state or a trust office licensed by the Commissioner pursuant to this act;

7. An out-of-state trust company with a trust office licensed by the Commissioner pursuant to this act; or

8. A foreign bank with a trust office licensed by the Commissioner pursuant to this act.

B. No company shall engage in an unauthorized trust activity.

Okla. Stat. tit. 6, § 1705

Added by Laws 1998, c. 104, § 5, eff. 11/1/1998.