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-809 Control and protection of trust property .
58a-809. Control and protection of trust property . A trustee shall take reasonable steps to take control of and protect the trust property. History: L. 2002, ch. 133, § 66; Jan. 1, 2003.
58a-810 Recordkeeping and identification of trust property; property acquisition and conveyance.
58a-810. Recordkeeping and identification of trust property; property acquisition and conveyance. (a) A trustee shall keep adequate records of the administration of the trust. (b) A trustee shall keep trust property separate from the trustee’s own property. (c) Except as otherwise provided in subsection (d), a trustee shall cause the trust property to be designated […]
58a-811 Enforcement and defense of claims.
58a-811. Enforcement and defense of claims. A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust. History: L. 2002, ch. 133, § 68; Jan. 1, 2003.
58a-812 Collecting trust property.
58a-812. Collecting trust property. A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee, and to redress a breach of trust known to the trustee to have been committed by a former trustee. History: L. 2002, ch. 133, § 69; Jan. 1, 2003.
58a-813 Duty to inform and report.
58a-813. Duty to inform and report. (a) As provided in this section, a trustee shall keep the qualified beneficiaries reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests. Unless unreasonable under the circumstances, a trustee shall promptly respond to a qualified beneficiary’s request for […]
58a-814 Discretionary powers.
58a-814. Discretionary powers. Notwithstanding the breadth of discretion granted to a trustee in the terms of the trust, including the use of such terms as “absolute,” “sole,” or “uncontrolled,” the trustee shall exercise a discretionary power in good faith and in accordance with the terms and purposes of the trust and the interests of the […]