58a-104 Knowledge.
58a-104. Knowledge. (a) Subject to subsection (b), a person has knowledge of a fact if the person: (1) Has actual knowledge of it; (2) has received a notice or notification of it; or (3) from all the facts and circumstances known to the person at the time in question, has reason to know it. (b) […]
58a-105 Default and mandatory rules.
58a-105. Default and mandatory rules. (a) Except as otherwise provided in the terms of the trust, this code governs the duties and powers of a trustee, relations among trustees and the rights and interests of a beneficiary. (b) The terms of a trust prevail over any provision of this code except: (1) The requirements for […]
58a-106 Common law of trusts; principles of equity.
58a-106. Common law of trusts; principles of equity. The common law of trusts and principles of equity supplement this code, except to the extent modified by this code or another statute of this state. History: L. 2002, ch. 133, § 6; Jan. 1, 2003.
58a-107 Governing law.
58a-107. Governing law. The meaning and effect of the terms of a trust are determined by: (1) The law of the jurisdiction designated in the terms unless the designation of that jurisdiction’s law is contrary to the law of the jurisdiction having the most significant relationship to the matter at issue; or (2) in the […]
58a-108 Principal place of administration.
58a-108. Principal place of administration. (a) Without precluding other means for establishing a sufficient connection with the designated jurisdiction, terms of a trust designating the principal place of administration are valid and controlling if: (1) A trustee’s principal place of business is located in or a trustee is a resident of the designated jurisdiction; or […]
58a-109 Methods and waiver of notice.
58a-109. Methods and waiver of notice. (a) Notice to a person under this code or the sending of a document to a person under this code must be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. Permissible methods of notice or for sending […]
58a-110 Others treated as qualified beneficiaries.
58a-110. Others treated as qualified beneficiaries. (a) A charitable organization expressly mandated to receive distributions under the terms of a trust has the rights of a qualified beneficiary under this code, if the charitable organization, on the date the charitable organization’s qualification is being determined: (1) Is a distributee of trust income or principal; (2) […]
58a-111 Nonjudicial settlement agreements.
58a-111. Nonjudicial settlement agreements. (a) For purposes of this section, “interested persons” means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court. (b) Except as otherwise provided in subsection (c), interested persons may enter into a binding nonjudicial settlement agreement with respect […]
58a-112 Rules of construction.
58a-112. Rules of construction. The rules of construction that apply in this state to the interpretation of and disposition of property by will also apply as appropriate to the interpretation of the terms of a trust and the disposition of the trust property. History: L. 2002, ch. 133, § 12; Jan. 1, 2003.
58a-113 Insurable interest of trustee.
58a-113. Insurable interest of trustee. (a) In this section, “settlor” means a person that executes a trust instrument. The term includes a person for which a fiduciary or agent is acting. (b) A trustee of a trust has an insurable interest in the life of an individual insured under a life insurance policy that is […]