A qualified disposition is subject to Sections 29 through 34 of this act, notwithstanding a transferor's retention of any or all of the powers and rights described in paragraph 2 of subsection A of Section 21 of this act and the transferor's service as a trust advisor pursuant to Section 25 of this act. The transferor has only such powers and rights as are conferred by the trust instrument. Except as permitted by Sections 21 and 25 of this act, a transferor has no rights or authority with respect to the property that is the subject of a qualified disposition or the income therefrom, and any agreement or understanding purporting to grant or permit the retention of any greater rights or authority is void. Added by Laws 2024, c. 369, § 28, eff. Nov. 1, 2024.
Oklahoma Legal Code