Other than the requirement in 60 O.S. § 176(H) that public trusts file their
budgets annually with their beneficiaries, there isnt any legal requirement
or restriction on the trusts budget, is there? For example, a trust budget
that provides for expenditures exceeding anticipated income (using savings)
does not violate any statutory or constitutional provision. Correct?
(Acknowledging, of course, that the trust indenture may speak to these
matters.)
I am not aware of anything but wanted to make sure Im not missing
something.
Thanks!
Kim Spady
Other than the requirement in 60 O.S. § 176(H) that public trusts file their
budgets annually with their beneficiaries, there isnt any legal requirement
or restriction on the trusts budget, is there? For example, a trust budget
that provides for expenditures exceeding anticipated income (using savings)
does not violate any statutory or constitutional provision. Correct?
(Acknowledging, of course, that the trust indenture may speak to these
matters.)
I am not aware of anything but wanted to make sure Im not missing
something.
Thanks!
Kim Spady