A. Subject to subsection B of this section, with respect to a power of direction or further power under paragraph 1 of subsection B of Section 7 of this act:ý 1. A trust director has the same fiduciary duty and liability in the exercise or nonexercise of the ýpower:ýa.if the power is held individually, as a sole trustee in a like position and under similar ýcircumstances, orb.if the power is held jointly with a trustee or another trust director, as a cotrustee in a like position ýand under similar circumstances; and2. The terms of the trust may vary the director's duty or liability to the same extent the terms of the ýtrust could vary the duty or liability of a trustee in a like position and under similar ýcircumstances.B. Unless the terms of a trust provide otherwise, if a trust director is licensed, certified, or otherwise ýauthorized or permitted by law other than this act to provide health care in the ordinary course ýof the director's business or practice of a profession, to the extent the director acts in that ýcapacity, the director has no duty or liability under this act.C. The terms of a trust may impose a duty or liability on a trust director in addition to the duties e extent the director acts in that ýcapacity, the director has no duty or liability under this act.C. The terms of a trust may impose a duty or liability on a trust director in addition to the duties and ýliabilities under this section.ýAdded by Laws 2024, c. 369, § 9, eff. Nov. 1, 2024.
Oklahoma Legal Code