§ 35-15-106. Law Supplemental to Chapter — Applicability of Certain Sections of Restatement of Trusts
The common law of trusts and principles of equity supplement this chapter, except to the extent modified by this chapter or another statute of this state. Notwithstanding subsection (a): No provision in a trust directing or authorizing accumulation of trust income shall be invalid; and The traditional common law distinction between a discretionary trust and […]
§ 35-15-107. Governing Law
The validity, construction and administration of a trust are determined by the law of the jurisdiction designated in the terms of the trust instrument, which is called a state jurisdiction provision. When a state jurisdiction provision designates that the law of this state controls: This state and its courts have jurisdiction over a trust created […]
§ 35-15-108. Place of Administration — Sufficient Nexus for a State Jurisdiction Provision — Transfer of Place of Administration
Without limiting or precluding other means for establishing a sufficient connection with a jurisdiction, the terms of a trust designating that jurisdiction’s laws in a state jurisdiction provision are valid and controlling if: A trustee’s principal place of business is located in or a trustee is a resident of the designated jurisdiction; or All or […]
§ 35-15-109. Methods and Waiver of Notice
Notice to a person under this chapter or the sending of a document to a person under this chapter 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 a document include first-class mail, personal delivery, […]
§ 35-15-110. Others Treated as Qualified Beneficiaries
A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a qualified beneficiary under this chapter, if the charitable organization, on the date the charitable organization’s qualification is being determined, would be a qualified beneficiary under this chapter if such charitable organization were an individual beneficiary. […]
§ 35-15-111. Nonjudicial Settlement Agreements
Except as otherwise provided in subsection (b), the trustee and the qualified beneficiaries may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust. A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and includes terms and conditions that […]
§ 35-15-112. 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.
§ 35-15-201. Role of Court in Administration of Trust
The court may intervene in the administration of a trust to the extent its jurisdiction is invoked by an interested person or as provided by law. A trust is not subject to continuing judicial supervision unless ordered by the court. A judicial proceeding involving a trust may relate to any matter involving the trust’s administration, […]
§ 35-15-101. Short Title
This chapter shall be known and may be cited as the “Tennessee Uniform Trust Code.”
§ 35-15-102. Scope
This chapter applies to express trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust.