72-40-118. Defenses in action against trust director
72-40-118. Defenses in action against trust director. In an action against a trust director for breach of trust, the director may assert the same defenses a trustee in a like position and under similar circumstances could assert in an action for breach of trust against the trustee. History: En. Sec. 14, Ch. 325, L. 2021.
72-40-119. Jurisdiction over trust director
72-40-119. Jurisdiction over trust director. (1) By accepting appointment as a trust director of a trust subject to this part, the director submits to personal jurisdiction of the courts of this state regarding any matter related to a power or duty of the director. (2) This section does not preclude other methods of obtaining jurisdiction over a […]
72-40-120. Office of trust director
72-40-120. Office of trust director. Unless the terms of a trust provide otherwise, the rules applicable to a trustee apply to a trust director regarding the following matters: (1) acceptance under 72-38-701; (2) giving of bond to secure performance under 72-38-702; (3) reasonable compensation under 72-38-708; (4) resignation under 72-38-705; (5) removal under 72-38-706; and (6) vacancy and appointment of successor under […]
72-40-121. Uniformity of application and construction
72-40-121. 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 its subject matter among states that enact it. History: En. Sec. 17, Ch. 325, L. 2021.
72-40-122. Relation to electronic signatures in global and national commerce act
72-40-122. Relation to electronic signatures in global and national commerce act. This part modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 et seq., but does not modify, limit, or supersede section 101(c) of that act, 15 U.S.C. 7001(c), or authorize electronic delivery of any of the notices described […]
72-40-117. Limitation of action against trust director
72-40-117. Limitation of action against trust director. (1) An action against a trust director for breach of trust must be commenced within the same limitation period as under 72-38-1005 for an action for breach of trust against a trustee in a like position and under similar circumstances. (2) A report or accounting has the same effect on […]
72-40-104. Common law and principles of equity
72-40-104. Common law and principles of equity. The common law and principles of equity supplement this part, except to the extent modified by this part or law of this state other than this part. History: En. Sec. 4, Ch. 325, L. 2021.
72-40-105. Exclusions
72-40-105. Exclusions. (1) In this section, “power of appointment” means a power that enables a person acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over trust property. (2) This part does not apply to a: (a) power of appointment; (b) power to appoint or remove a trustee or […]
72-40-106. through 72-40-109 reserved
72-40-106 through 72-40-109 reserved.
72-40-110. Powers of trust director
72-40-110. Powers of trust director. (1) Subject to 72-40-111, the terms of a trust may grant a power of direction to a trust director. (2) Unless the terms of a trust provide otherwise: (a) a trust director may exercise any further power appropriate to the exercise or nonexercise of a power of direction granted to the director under […]