Section 18-15-11. – Application to existing trusts.
§ 18-15-11. Application to existing trusts. This chapter applies to trusts existing on and created after August 6, 1996. As applied to trusts existing on its effective date, this chapter governs only decisions or actions occurring after that date. History of Section.P.L. 1996, ch. 276, § 1.
Section 18-14-2. – Testamentary additions to trusts.
§ 18-14-2. Testamentary additions to trusts. (a) A will may validly devise or bequeath property to the trustee of a trust established or to be established: (1) During the testator’s lifetime by the testator, by the testator and some other person, or by some other person, including a funded or unfunded life insurance trust, although […]
Section 18-14-3. – Effect on existing wills.
§ 18-14-3. Effect on existing wills. This chapter applies to a will of a testator who dies after July 12, 1994. History of Section.P.L. 1994, ch. 352, § 1.
Section 18-14-4. – Uniformity of application and construction.
§ 18-14-4. Uniformity of application and construction. This chapter shall be applied and construed to effectuate its general purpose to make the law uniform with respect to the subject of this chapter among states enacting it. History of Section.P.L. 1994, ch. 352, § 1.
Section 18-13-11. – Exemption of third person from liability.
§ 18-13-11. Exemption of third person from liability. A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the incapacity of, a custodial trustee. In the absence of knowledge to the contrary, […]
Section 18-13-12. – Liability to third person.
§ 18-13-12. Liability to third person. (a) A claim based on a contract entered into by a custodial trustee acting in a fiduciary capacity, an obligation arising from the ownership or control of custodial trust property, or a tort committed in the course of administering the custodial trust, may be asserted by a third person […]
Section 18-13-13. – Declination, resignation, incapacity, death, or removal of custodial trustee — Designation of successor custodial trustee.
§ 18-13-13. Declination, resignation, incapacity, death, or removal of custodial trustee — Designation of successor custodial trustee. (a) Before accepting the custodial trust property, a person designated as custodial trustee may decline to serve by notifying the person who made the designation, the transferor, or the transferor’s legal representative. If an event giving rise to […]
Section 18-13-14. – Expenses, compensation, and bond of custodial trustee.
§ 18-13-14. Expenses, compensation, and bond of custodial trustee. Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary, or by court order, a custodial trustee: (1) Is entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services; (2) Has a […]
Section 18-13-15. – Reporting and accounting by custodial trustee — Determination of liability of custodial trustee.
§ 18-13-15. Reporting and accounting by custodial trustee — Determination of liability of custodial trustee. (a) Upon the acceptance of custodial trust property, the custodial trustee shall provide a written statement describing the custodial trust property and shall thereafter provide a written statement of the administration of the custodial trust property: (1) once each year, […]
Section 18-12.1-10. – Uniformity of application and construction.
§ 18-12.1-10. 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 of Section.P.L. 2009, ch. 61, § 2; P.L. 2009, ch. 63, § 2.