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OK HB1641

Bill

Status

Passed

5/11/2010

Primary Sponsor

Scott Inman

Click for details

Origin

House of Representatives

2010 Regular Session

AI Summary

  • Establishes validity of trusts created for the care of designated domestic or pet animals, terminating when no living animal is covered by the trust.

  • Requires liberal construction of trust instruments to carry out the transferor's intent, with extrinsic evidence admissible to determine intent.

  • Allows courts to appoint a trustee if none is designated or willing to serve, with trustee entitled to reasonable fees and expenses unless otherwise provided in the trust instrument.

  • Permits trust enforcement by a person appointed in the trust instrument, the caretaker of the designated animal(s), the remainder beneficiary, or a court-appointed individual.

  • Requires each trust to identify a remainder beneficiary; if none named, unexpended trust property transfers to the original transferor (if living) or their successors upon trust termination, with accounting requirements waived for trusts with assets not exceeding $20,000.

Legislative Description

Trusts; relating to the care of pets; providing for court appointment of trustee in certain circumstance; providing for enforcement of trust. Effective date.

Animals and Game and Fish

Last Action

Approved by Governor 05/10/2010

5/11/2010

Committee Referrals

Judiciary3/17/2009
Economic Development and Financial Services2/3/2009

Full Bill Text

No bill text available