No court or other judicial body shall have the authority to compel a person holding a power of revocation or amendment over a preservation trust to exercise the power of revocation or amendment. The provisions of this act shall be considered restrictions on the transferability of the grantor’s beneficial interest in the preservation trust that is enforceable under applicable nonbankruptcy law within the meaning of Section 541(c)(2) of the United States Bankruptcy Code or any successor provisions.
Okla. Stat. tit. 31, § 16
Revocation of preservation trust cannot be compelled - Restrictions on transferability
Known as the Family Wealth Preservation Trust Act
The act spans §§ 31–31 (21 sections).
Added by Laws 2004, c. 509, § 7, emerg. eff
Official source: Oklahoma Legislature. Reproduced from public-domain Oklahoma statutes; confirm against the official source for the current text. Not legal advice.