§ 28-73-1106. Application to existing relationships
(a) Except as otherwise provided in this chapter, on September 1, 2005: (1) this chapter applies to all trusts created before, on, or after September 1, 2005; (2) this chapter applies to all judicial proceedings concerning trusts commenced on or after September 1, 2005; (3) this chapter applies to judicial proceedings concerning trusts commenced before […]
§ 28-73-1007. Event affecting administration or distribution
If the happening of an event, including marriage, divorce, performance of educational requirements, or death, affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the trustee’s lack of knowledge.
§ 28-73-1008. Exculpation of trustee
(a) A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that it: (1) relieves the trustee of liability for breach of trust committed in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries; or (2) was […]
§ 28-73-1009. Beneficiary’s consent, release, or ratification
A trustee is not liable to a beneficiary for breach of trust if the beneficiary consented to the conduct constituting the breach, released the trustee from liability for the breach, or ratified the transaction constituting the breach, unless: (1) the consent, release, or ratification of the beneficiary was induced by improper conduct of the trustee; […]
§ 28-73-1010. Limitation on personal liability of trustee
(a) Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into in the trustee’s fiduciary capacity in the course of administering the trust if the trustee in the contract disclosed the fiduciary capacity. (b) A trustee is personally liable for torts committed in the course of […]
§ 28-73-1011. Interest as general partner
(a) Except as otherwise provided in subsection (c) or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust’s acquisition of the interest if the fiduciary […]
§ 28-73-1012. Protection of person dealing with trustee
(a) A person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee’s powers is protected from liability as if the trustee properly exercised the power. (b) A person other […]
§ 28-73-1013. Certification of trust
(a) Instead of furnishing a copy of the trust instrument to a person other than a beneficiary, the trustee may furnish to the person a certification of trust containing the following information: (1) a statement that the trust exists and the date the trust instrument was executed; (2) the identity of the settlor; (3) the […]
§ 28-73-906. Language invoking standard of subchapter
The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under this subchapter: “investments permissible by law for investment of trust funds”, “legal investments”, “authorized investments”, “using the judgment and care under the circumstances then prevailing that persons of prudence, discretion, and […]
§ 28-73-1101. Uniformity of application and construction
In applying and construing this chapter consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.