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OK HB2164
Bill
Status
5/24/2013
Primary Sponsor
John Sparks
Click for details
AI Summary
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Amends 6 O.S. 2011, Section 1706 of the Multistate Trust Institutions Act to add a new exception for certain trust activities.
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Allows a trust company formed under state law to act as trustee for the sole purpose of holding and transferring title of aircraft registered or to be registered with the Federal Aviation Administration.
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This aircraft-related trust activity is exempted from requirements to obtain a charter, license, or registration under the Multistate Trust Institutions Act.
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Takes effect November 1, 2013.
Legislative Description
Trust accounts; Multistate Trust Institutions Act; providing exception for trust account used to facilitate aircraft registration; effective date.
General Legislation
Last Action
Approved by Governor 05/31/2013
5/24/2013