HB4196

Oklahoma HB4196 amends the Oklahoma Uniform Trust Code to update definitions, modify trustee duties, and clarify enforceability of forfeiture clauses.

Oklahoma HB4196 amends the Oklahoma Uniform Trust Code to update definitions, modify trustee duties, and clarify enforceability of forfeiture clauses in trusts. The bill modifies the definition of "trustee" to include original, additional, and successor trustees, and co-trustees. It also updates statutory references and amends sections related to binding nonjudicial settlement agreements, certification of trusts, and the applicability of the Oklahoma Uniform Trust Code.