US Lawyer Database

§ 28-76-107. Limitations on trust director. [Effective January 1, 2020.]

A trust director is subject to the same rules as a trustee in a like position and under similar circumstances in the exercise or nonexercise of a power of direction or further power under § 28-76-106(b)(1) regarding: (1) a payback provision in the terms of a trust necessary to comply with the reimbursement requirements of […]

§ 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 […]

§ 28-76-112. 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 […]

§ 28-76-115. Jurisdiction over trust director. [Effective January 1, 2020.]

(a) By accepting appointment as a trust director of a trust subject to this chapter, the director submits to personal jurisdiction of the courts of this state regarding any matter related to a power or duty of the director. (b) This section does not preclude other methods of obtaining jurisdiction over a trust director.