Section 301 – Construction of this part.
59-22-301. Construction of this part. This part sets forth definitions in the Master Settlement Agreement that are cross-referenced in Part 2, Model Tobacco Settlement Statute. This part is intended for convenience only and may not be construed as substantively or otherwise altering Part 2, Model Tobacco Settlement Statute, or the Master Settlement Agreement. Where Part […]
Section 2 – Mineral Bonus Account created — Contents — Use of Mineral Bonus Account money — Mineral Lease Account created — Contents — Appropriation of money from Mineral Lease Account.
Effective 7/1/2022 59-21-2. Mineral Bonus Account created — Contents — Use of Mineral Bonus Account money — Mineral Lease Account created — Contents — Appropriation of money from Mineral Lease Account. (1) (a) There is created a restricted account within the General Fund known as the “Mineral Bonus Account.” (b) The Mineral Bonus Account consists […]
Section 201 – Findings and purpose.
59-22-201. Findings and purpose. (1) Cigarette smoking presents serious public health concerns to the State and to the citizens of the State. The Surgeon General has determined that smoking causes lung cancer, heart disease and other serious diseases, and that there are hundreds of thousands of tobacco-related deaths in the United States each year. These […]
Section 203 – Requirements.
59-22-203. Requirements. (1) Any tobacco product manufacturer selling cigarettes to consumers within the State (whether directly or through a distributor, retailer or similar intermediary or intermediaries) after the date of enactment of this Act shall do one of the following: (a) become a participating manufacturer (as that term is defined in Section II(jj) of the […]
Section 105 – Trustee’s fiduciary obligations and duty not to deprive trust of tax exemption, deduction or credit.
59-18-105. Trustee’s fiduciary obligations and duty not to deprive trust of tax exemption, deduction or credit. (1) In the exercise of his powers including the powers granted by this chapter, a trustee has a duty to act with due regard to his obligation as a fiduciary, including a duty not to exercise any power in […]
Section 106 – Trustee’s notice to attorney general of inconsistent provisions in trust.
59-18-106. Trustee’s notice to attorney general of inconsistent provisions in trust. If the trustee determines that the governing instrument contains provisions, in the case of a power to make distributions, which is more restrictive than Subsection 59-18-105(2), or if the trust contains other powers which specifically direct acts by the trustee that are inconsistent with […]
Section 107 – Amendment of governing instrument.
59-18-107. Amendment of governing instrument. (1) In the case of a trust which is solely for a named charitable organization or organizations and as to which the trustee does not possess any discretion with regard to the distribution of income or principal among two or more such organizations, the trustee, with the consent of the […]
Section 108 – Court’s power to relieve trustee from restrictions on powers and duties.
59-18-108. Court’s power to relieve trustee from restrictions on powers and duties. This chapter does not affect the power of a court of competent jurisdiction for cause shown and upon petition of the trustee, attorney general, or affected beneficiary, and upon appropriate notice to the affected parties to relieve a trustee from any restrictions on […]
Section 109 – Release of power to select charitable donees.
59-18-109. Release of power to select charitable donees. (1) The trustee of a trust all of the unexpired interests in which are devoted to one or more charitable purposes, unless the creating instrument expressly provides otherwise, may release a power to select charitable donees. (2) The release of a power to select charitable donees may […]
Section 110 – Election and consent to release of trust to specified charitable organization.
59-18-110. Election and consent to release of trust to specified charitable organization. A trustee of a trust for the benefit of a public charitable organization or organizations may, with the consent of such organization or organizations, come under Subsection 59-18-109(5) by filing an election, accompanied by the consents, with the attorney general. Thereafter, the trust […]