Section 1203 - [Effective 11/1/2024]A. This act applies to a trust, whenever created, that has its principal place of administration in this state and is subject to the following rules: 1. If the trust was created before the effective date of this act, this act applies only to a decision or action occurring on or after the effective date of this act; and2. If the principal place of administration of the trust is changed to this state on or after the effective date of this act, this act applies only to a decision or action occurring on or after the date of the change.B. Without precluding other means to establish a sufficient connection with the designated jurisdiction in a directed trust, the terms of the trust which designate the principal place of administration of the trust are valid and controlling if:1. A trustee's principal place of business is located in or a trustee is a resident of the designated jurisdiction;2. A trust director's principal place of business is located in or a trust director is a resident of the designated jurisdiction; or3. All or part of the administration occurs in the designated jurisdiction.Okla. Stat. tit. 60, § 1203
Added by Laws 2024, c. 369,s. 4, eff. 11/1/2024.