Oklahoma Code § 60-395

§ 60-395.

Powers of cotrustees.

Oklahoma Statutes - Title 60. Property

The cotrustees of a trust estate resulting hereunder are hereby

authorized and empowered to manage such trust estate and all money

and property belonging thereto; to rent or to lease any of the real

property for the purpose of exploring for and extracting any

minerals, including oil and gas, as well as for other purposes; and

to sell or otherwise convert any of the property into cash; in such

manner, for such price, and upon such terms and conditions as they

deem to be for the best interest of the trust estate; and, for such

purposes, to execute and deliver such written instruments as may be

required.

Such cotrustees are also authorized and empowered to use any

money and property of the trust estate for the construction of

public improvements in the town or city, or in the county,

designated in such gift, for the purpose of sites and rights-of-way

for public improvements in such town or city, or in such county, and

for repairs and additions to existing public improvements within

such city or town, or within such county; and, where necessary to

the use of funds from other sources for the construction of public

improvements upon any real property in such county belonging to such

trust estate, may, in their discretion, convey the title to such

real property to any one of the governmental units having a

beneficial interest in such trust estate, for such public

improvement purposes, without further consideration.

Such cotrustees shall be the exclusive judges of the public

improvements to be made or aided from such trust estate. They are

also authorized to enter into any contracts, including construction

contracts, which they deem to be proper in the performance of their

duties hereunder, and to employ and fix the compensation for such

help and assistance, professional or otherwise, as they deem

necessary to carry out the policies determined by them hereunder,

and to pay the same from the trust fund account provided for herein.

Such cotrustees may be sued, and, in their discretion, may sue, in

any matters relating to such trust estate or growing out of the

administration thereof, and may employ attorneys in connection with

any such matters, but shall not personally be civilly liable for

damages or attorneys' fees except upon criminal or culpable

misconduct. Any official act or action by such cotrustees shall

require the joinder of all three trustees.

Laws 1953, p. 292, § 15.