58a-1102 Electronic records and signatures.
58a-1102. Electronic records and signatures. The provisions of this code governing the legal effect, validity or enforceability of electronic records or electronic signatures, and of contracts formed or performed with the use of such records or signatures, conform to the requirements of section 102 of the electronic signatures in global and national commerce act (15 […]
58a-1103 Severability clause.
58a-1103. Severability clause. If any provision of this code or its application to any person or circumstances is held invalid, the invalidity does not affect other provisions or applications of this code which can be given effect without the invalid provision or application, and to this end the provisions of this code are severable. History: […]
58a-1106 Application to existing relationships.
58a-1106. Application to existing relationships. (a) Except as otherwise provided in this act, on the effective date of this act: (1) This act applies to all trusts created before, on, or after its effective date; (2) this act applies to all judicial proceedings concerning trusts commenced on or after its effective date; (3) this act […]
58a-1107 Transfer by warranty deed of real property into inter vivos trust; effect of insurance coverage.
58a-1107. Transfer by warranty deed of real property into inter vivos trust; effect of insurance coverage. (a) The transfer by warranty deed of real property into an inter vivos trust shall not affect the coverage of any title insurance if the settlor of such trust is and remains a beneficiary of such trust during the […]
58a-1005 Limitation of action against trustee.
58a-1005. Limitation of action against trustee. (a) A beneficiary may not commence a proceeding against a trustee for breach of trust more than one year after the date the beneficiary or a representative of the beneficiary was sent a report that adequately disclosed the existence of a potential claim for breach of trust and informed […]
58a-1006 Reliance on trust instrument.
58a-1006. Reliance on trust instrument. A trustee who acts in reasonable reliance on the terms of the trust as expressed in the trust instrument is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance. History: L. 2002, ch. 133, § 81; Jan. 1, 2003.
58a-1007 Event affecting administration or distribution.
58a-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 […]
58a-1008 Exculpation of trustee.
58a-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 […]
58a-1009 Beneficiary’s consent, release, or ratification.
58a-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 […]
58a-1010 Limitation on personal liability of trustee.
58a-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 […]