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NATIONAL BANK OF TULSA v. OKLAHOMA TAX COM'N

No. 39910.

380 P.2d 542 (1963)

NATIONAL BANK OF TULSA, a national banking association, and Florence Geddes Sowle, Co-executors of the Estate of Frank Morse Sowle, Plaintiff in Error, v. OKLAHOMA TAX COMMISSION, Defendant in Error.

Supreme Court of Oklahoma.

Rehearing Denied April 9, 1963.

Attorney(s) appearing for the Case

Ralph L. Abercrombie, Glenn F. Prichard, Tulsa, for plaintiff in error.

Albert D. Lynn, E.J. Armstrong, Oklahoma City, for defendant in error.

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...

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