§101. Short title This Part may be known and cited as “the Maine Uniform Trust Code.” [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).] SECTION HISTORY PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
§102. Scope This Code 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. [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).] SECTION HISTORY PL […]
§103. Definitions As used in this Code, unless the context otherwise indicates, the following terms have the following meanings. [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).] 1. Action. “Action,” with respect to an act of a trustee, includes a failure to act. [PL 2003, […]
§104. Knowledge 1. Person. Subject to subsection 2, a person has knowledge of a fact if the person: A. Has actual knowledge of it; [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).] B. Has received a notice or notification of it; or [PL 2003, […]
§105. Default and mandatory rules 1. Code governs. 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. [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 […]
§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. [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).] SECTION HISTORY PL 2003, […]
§107. Governing law The meaning and effect of the terms of a trust are determined by: [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).] 1. Law of jurisdiction designated; exception. The law of the jurisdiction designated in the terms unless the designation of that jurisdiction’s law […]
§108. Principal place of administration 1. Terms of trust controlling. 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: A. A trustee’s principal place of business is located in or a trustee is a resident […]
§109. Methods and waiver of notice 1. Manner. 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 […]
§110. Others treated as qualified beneficiaries 1. Charitable organization or person to enforce trust. A charitable organization expressly designated to receive distributions under the terms of a charitable 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: A. […]
§111. Nonjudicial settlement agreements 1. Interested persons defined. 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. [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).] […]
§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. [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. […]
