Section 19-3D-24 – Terms of Second Trust.
Section 19-3D-24 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. TERMS OF SECOND TRUST. A reference in Chapter 3B (commencing with Section 19-3B-101) of this title, to a trust instrument or terms of the trust includes a second-trust […]
Section 19-3D-9 – Court Involvement.
Section 19-3D-9 Court involvement. (a) On application of an authorized fiduciary, a person entitled to notice under Section 19-3D-7(c), a beneficiary, or with respect to a charitable interest that is not entirely held by or for the benefit of one or more identified and existing charitable organizations, the Attorney General or other person that has […]
Section 19-3D-25 – Settlor.
Section 19-3D-25 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. SETTLOR. (a) For purposes of laws of this state other than this chapter and subject to subsection (b), a settlor of a first trust is deemed to be […]
Section 19-3D-10 – Formalities.
Section 19-3D-10 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. FORMALITIES. An exercise of the decanting power must be made in a record signed by an authorized fiduciary. The signed record must, directly or by reference to the […]
Section 19-3D-26 – Later-Discovered Property.
Section 19-3D-26 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. LATER-DISCOVERED PROPERTY. (a) Except as otherwise provided in subsection (c), if exercise of the decanting power was intended to distribute all the principal of the first trust to […]
Section 19-3D-11 – Decanting Power Under Expanded Distributive Dicretion.
Section 19-3D-11 Decanting power under expanded distributive dicretion. (a) In this section the following terms have the following meanings: (1) NONCONTINGENT RIGHT. A right that is not subject to the exercise of discretion or the occurrence of a specified event that is not certain to occur. The term does not include a right held by […]
Section 19-3D-27 – Obligations.
Section 19-3D-27 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. OBLIGATIONS. A debt, liability, or other obligation enforceable against property of a first trust is enforceable to the same extent against the property when held by the second […]
Section 19-3D-12 – Decanting Power Under Limited Distributive Discretion.
Section 19-3D-12 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. DECANTING POWER UNDER LIMITED DISTRIBUTIVE DISCRETION. (a) In this section, “limited distributive discretion” means a discretionary power of distribution that is limited to an ascertainable standard or a […]
Section 19-3D-28 – Uniformity of Application and Construction.
Section 19-3D-28 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. UNIFORMITY OF APPLICATION AND CONSTRUCTION. In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to […]
Section 19-3D-13 – Trust for Beneficiary With Disability.
Section 19-3D-13 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. TRUST FOR BENEFICIARY WITH DISABILITY. (a) In this section the following terms have the following meanings: (1) BENEFICIARY WITH A DISABILITY. A beneficiary of a first trust who […]