A. Trusts created under the provisions of Sections 176 through 180.55 of this title or any amendments or extensions thereof shall not include any trust purpose, function nor activity primarily used in the distribution centers for intoxicating beverages and low-point beer as defined in Title 37 of the Oklahoma Statutes; nor shall it include a residential enterprise or function except as provided in Section 178.6 of this title. For the purposes of this section, "primarily used" shall mean more than fifty percent (50%) of the warehouse. B. Nothing in this section shall preclude the financing, construction, ownership or leasing of a warehouse as a permissible trust purpose, function or activity, so long as such warehouse is not primarily used for housing, storage or distribution of intoxicating beverages or low-point beer.
Okla. Stat. tit. 60, § 178.4
Trust purpose - Exceptions
Added by Laws 1976, c. 222, § 11, eff
Official source: Oklahoma Legislature. Reproduced from public-domain Oklahoma statutes; confirm against the official source for the current text. Not legal advice.