1. SB1018 would enact the Oklahoma
Decanting Act. Drafted by a group of
Oklahoma attorneys who practice in the area of trust law, this act is modeled
on a similar statute in Texas, but modified to fit the particulars of Oklahoma
laws and jurisprudence regarding trusts – such as being protective of
beneficiaries. I participated in its
drafting. Sen. Julie Daniels is the
bill’s author. The bill has been
referred to the Senate Judiciary Committee.
2. SB1064 is part of the efforts of the
same group of Oklahoma attorneys. This
bill would require that the meaning and effect of the terms of a trust be
determined by the law of the jurisdiction designated in the terms of the trust
or by the law of the jurisdiction where the trust is administered in the
absence of a controlling designation in the terms of the trust. Sen. Daniels is the bill’s author. The bill is referred to the Senate Judiciary
Committee.
3. SB1505 is part of the efforts of the
same group of Oklahoma attorneys. This
bill would enact the Oklahoma Non-Judicial Transfer of Trust Act, allowing for
transfers of trusts to other jurisdictions under certain conditions and with
certain types of notice. Sen. Daniels is
the bill’s author. The bill is assigned
to the Senate Judiciary Committee.
4. SB1003 would enact the Uniform
Fiduciary Access to Digital Access Act.
I have not yet reviewed to determine (i) whether it incorporates the
revisions adopted by the Uniform Laws Commission when it approved the Revised Uniform Fiduciary Access to
Digital Access Act and (ii) whether it properly integrates with Oklahoma laws
regarding fiduciaries. When this
proposal was last introduced, it had some errors, including reference to the
wrong Oklahoma statutes governing guardians, because of other states’ use of
the term conservator to refer to a guardian of the property. This bill is assigned to the Senate Judiciary
Committee. Based on past experience, I
do not anticipate that this bill will survive the committee.
5. HB3534 would create a status-based
presumption of undue influence in cases of transfers to a caregiver with values
exceeding $20,000. Rep. Chad Caldwell is
the bill’s author. The bill is assigned
to the House Judiciary Committee.
6. SB1046, SB1135, and SB1322 would each
require background checks for guardians of minors, amending 30 O.S. 2-101. I have not reviewed them to determine how
they overlap. I suspect that one of
these bills will be passed and become law, given that whoever is pushing it has
reached out to three separate senators for sponsorship.
