§ 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 […]
§ 28-76-114. 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.
§ 28-76-115. 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.
§ 28-76-116. Office of trust director. [Effective January 1, 2020.]
Unless the terms of a trust provide otherwise, the rules applicable to a trustee apply to a trust director regarding the following matters: (1) acceptance under § 28-73-701; (2) giving of bond to secure performance under § 28-73-702; (3) reasonable compensation under § 28-73-708; (4) resignation under § 28-73-705; (5) removal under § 28-73-706; and […]
§ 28-76-101. Title. [Effective January 1, 2020.]
This chapter may be cited as the “Uniform Directed Trust Act”.
§ 28-76-117. Uniformity of application and construction. [Effective January 1, 2020.]
In applying and construing this 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.
§ 28-76-102. Definitions. [Effective January 1, 2020.]
As used in this chapter: (1) “Breach of trust” includes a violation by a trust director or trustee of a duty imposed on that director or trustee by the terms of the trust, this chapter, or law of this state other than this chapter pertaining to trusts. (2) “Directed trust” means a trust for which […]
§ 28-76-103. Application — Principal place of administration. [Effective January 1, 2020.]
(a) This chapter applies to a trust, whenever created, that has its principal place of administration in this state, subject to the following rules: (1) If the trust was created before January 1, 2020, this chapter applies only to a decision or action occurring on or after January 1, 2020. (2) If the principal place […]