Legal Opinion
National Bank of Tulsa v. Oklahoma Tax Commission
Supreme Court of Oklahoma
Decided February 19, 1963No. 39910PublishedCited by 8 opinions
1Opinion of the Court
JOHNSON, Justice.
On December 2, 1948, the National Bank of Tulsa, Oklahoma, created a profit-sharing trust for the benefit of its employees. Under this agreement, the bank each year set aside ten percent of its net profits in this trust. The employees of the bank contributed nothing. Under the provisions of the trust, the annual contributions of the bank were allotted to the accounts of the employees in proportion to their respective salaries. As long as the employee remained with the bank, he had but one function which he could exercise, i. e., the naming of a beneficiary to receive the fund…
2Cases cited4 opinions
- Price v. MahoneySupreme Court of Oklahoma · 1935
- Estate of Eli L. Garber, Deceased, Farmers Bank and Trust Company of Lancaster, Pennsylvania v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1959
- Glenn v. HannerCourt of Appeals for the Sixth Circuit · 1954
- Hanner v. GlennDistrict Court, W.D. Kentucky · 1953
3Cited by8 opinions
- CH Leavell & Company v. Oklahoma Tax CommissionSupreme Court of Oklahoma · 1968
- Oklahoma Industries Authority v. BarnesSupreme Court of Oklahoma · 1988
- Personal Loan & Finance Co. of Capitol Hill v. Oklahoma Tax CommissionSupreme Court of Oklahoma · 1968
- TPQ Investment Corp. v. State Ex Rel. Oklahoma Tax CommissionSupreme Court of Oklahoma · 1998
- Chickasha Federal Savings & Loan Ass'n v. Oklahoma Tax CommissionSupreme Court of Oklahoma · 1974
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