§ 35-15-1102. Electronic Records and Signatures
The provisions of this chapter 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 U.S.C. § 7002), and supersede, […]
§ 35-15-1103. Application to Existing Relationships
Except as otherwise provided in this chapter, on July 1, 2004: This chapter applies to all trusts created before, on, or after July 1, 2004; This chapter applies to all judicial proceedings concerning trusts commenced on or after July 1, 2004; This chapter applies to judicial proceedings concerning trusts commenced before July 1, 2004, unless […]
§ 35-15-1008. Exculpation of Trustee
A provision of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that it: 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 beneficiaries; or Was inserted as the […]
§ 35-15-1009. Beneficiary’s Consent, Release, or Ratification
A trustee is not liable to a beneficiary for breach of trust if the beneficiary consented in writing to the conduct or transaction constituting the breach, released the trustee from liability for the breach, or ratified the transaction constituting the breach, unless: The consent, release, or ratification of the beneficiary was induced by improper conduct […]
§ 35-15-1010. Limitation on Personal Liability of Trustee
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. Except as otherwise provided in subsection (a) or (c), the debts, obligations and liabilities […]
§ 35-15-1011. Interest as General Partner
Except as otherwise provided in subsection (c) or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust’s acquisition of the interest if the fiduciary capacity […]
§ 35-15-1012. Protection of Person Dealing With Trustee
A person other than a beneficiary who in “good faith”, as defined in § 47-1-201, assists a trustee, or who in “good faith” and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee’s powers is protected from liability as if the trustee properly exercised the power. […]
§ 35-15-1013. Certification of Trust
Instead of furnishing a copy of the trust instrument to any person to evidence the existence and validity of the trust, the trustee may furnish to such person a certification of trust, signed by the trustee or trustees having signatory authority as identified in subdivision (a)(5) and attested by a notary public and shall contain […]
§ 35-15-816. Specific Powers of Trustee
Any references contained in a will or trust incorporating by reference the powers enumerated in § 35-50-110 as they relate to a trustee will incorporate by reference the powers contained in this section. Unless the terms of the instrument expressly provide otherwise and without limiting the authority conferred by § 35-15-815, a trustee may: Collect […]
§ 35-15-817. Distribution Upon Termination — Petition for Accounting
Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does not notify the trustee of an objection within thirty (30) days after the proposal was sent but only if the […]