§ 28-76-118. Relation to the Electronic Signatures and Global National Commerce Act. [Effective January 1, 2020.]
This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. Section 7001(c), or authorize electronic delivery of any of the notices described in Section 103(b) of that act, 15 U.S.C. […]
§ 28-76-108. Duty and liability of trust director. [Effective January 1, 2020.]
(a) Subject to subsection (b), with respect to a power of direction or further power under § 28-76-106(b)(1): (1) a trust director has the same fiduciary duty and liability in the exercise or nonexercise of the power: (A) if the power is held individually, as a sole trustee in a like position and under similar […]
§ 28-76-109. Duty and liability of directed trustee. [Effective January 1, 2020.]
(a) A directed trustee shall take reasonable action to comply with a trust director’s direction given to the directed trustee by a trust director acting within the scope of the powers expressly granted to the trust director in the trust instrument, and except as otherwise provided in the trust instrument, the directed trustee is not […]
§ 28-76-110. Duty to provide information to trust director or trustee. [Effective January 1, 2020.]
(a) Subject to § 28-76-111, a trustee shall provide information to a trust director to the extent the information is reasonably related both to: (1) the powers or duties of the trustee; and (2) the powers or duties of the director. (b) Subject to § 28-76-111, a trust director shall provide information to a trustee […]
§ 28-76-111. No duty to monitor, inform, or advise. [Effective January 1, 2020.]
(a) Unless the terms of a trust provide otherwise: (1) a trustee does not have a duty to: (A) monitor a trust director; or (B) inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the director; and (2) by taking […]
§ 28-76-112. Application to trustee. [Effective January 1, 2020.]
The terms of a trust may relieve a cotrustee from duty and liability with respect to another cotrustee’s exercise or nonexercise of a power of the other cotrustee to the same extent that in a directed trust a directed trustee is relieved from duty and liability with respect to a trust director’s power of direction […]
§ 28-76-113. Limitation of action against trust director. [Effective January 1, 2020.]
(a) An action against a trust director for breach of trust must be commenced within the same limitation period as under § 28-73-1005 for an action for breach of trust against a trustee in a like position and under similar circumstances. (b) A report or accounting has the same effect on the limitation period for […]
§ 28-75-116. Custodian compliance and immunity
(a) Not later than 30 days after receipt of the information required under §§ 28-75-107 — 28-75-115, a custodian shall comply with a request under this chapter from a fiduciary or designated recipient to disclose digital assets or terminate an account. If the custodian fails to comply, the fiduciary or designated recipient may apply to […]
§ 28-76-114. Defenses in action against trust director. [Effective January 1, 2020.]
In an action against a trust director for breach of trust, the director may assert the same defenses a trustee in a like position and under similar circumstances could assert in an action for breach of trust against the trustee.
§ 28-75-117. Uniformity of application and construction
In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.