§60-178.4. Trust purpose - Exceptions.
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/ok/title-60-property/60-178-4·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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. Added by Laws 1976, c. 222, § 11, eff. Dec. 1, 1976. Amended by Laws 1985, c. 10, § 1, emerg. eff. March 28, 1985; Laws 1990, c. 72, § 1, emerg. eff. April 16, 1990; Laws 1995, c. 274, § 50, eff. Nov. 1, 1995; Laws 2003, c. 386, § 4, eff. July 1, 2003; Laws 2010, c. 195, § 1, emerg. eff. May 4, 2010; Laws 2018, c. 274, § 1, eff. Nov. 1, 2018.