Exceptions — Non-effective release of trustee. A. Subject to subsection B of this section, a directed trustee shall take reasonable action to comply with a trust director's exercise or nonexercise of a power of direction or further power under paragraph 1 of subsection B of Section 7 of this act, and the trustee is not liable for the action. B. A directed trustee must not comply with a trust director's exercise or nonexercise of a power of direction or further power under paragraph 1 of subsection B of Section 7 of this act to the extent that by complying, the trustee would engage in willful misconduct. C. An exercise of a power of direction under which a trust director may release a trustee or another trust director from liability for breach of trust is not effective if: 1. The breach involved the trustee's or other director's willful misconduct; 2. The release was induced by improper conduct of the trustee or other director in procuring the release; or 3. At the time of the release, the trust director did not know the material facts relating to the breach. D. A directed trustee that has reasonable doubt about its duty under this section may petition the district court for instructions. E. The terms of a trust may impose a duty or liability on a directed trustee in addition to the duties and liabilities under this section.
‹ Prev All Oklahoma sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.