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OK HB1641
Bill
Status
5/11/2010
Primary Sponsor
Scott Inman
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AI Summary
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Establishes validity of trusts created for the care of designated domestic or pet animals, terminating when no living animal is covered by the trust.
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Requires liberal construction of trust instruments to carry out the transferor's intent, with extrinsic evidence admissible to determine intent.
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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.
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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.
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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