Section 109 – Duty and liability of directed trustee.
Effective 5/14/2019 75-12-109. Duty and liability of directed trustee. (1) Subject to Subsection (2), a directed trustee shall take reasonable action to comply with a trust director’s exercise or nonexercise of a power of direction or further power under Subsection 75-12-106(2)(a), and the trustee is not liable for the action. (2) A directed trustee may […]
Section 110 – Duty to provide information to trust director or trustee.
Effective 5/14/2019 75-12-110. Duty to provide information to trust director or trustee. (1) Subject to Section 75-12-111, a trustee shall provide information to a trust director to the extent the information is reasonably related both to: (a) the powers or duties of the trustee; and (b) the powers or duties of the director. (2) Subject […]
Section 111 – No duty to monitor, inform, or advise.
Effective 5/14/2019 75-12-111. No duty to monitor, inform, or advise. (1) Unless the terms of a trust provide otherwise: (a) a trustee does not have a duty to: (i) monitor a trust director; or (ii) inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might […]
Section 103 – Application — Principal place of administration.
Effective 5/14/2019 75-12-103. Application — Principal place of administration. (1) This chapter applies to a trust, whenever created, that has the trust’s principal place of administration in this state, subject to the following rules: (a) if the trust was created before May 14, 2019, this chapter applies only to a decision or action occurring on […]
Section 110 – Disclosure of other digital assets of principal.
Effective 5/9/2017 75-11-110. Disclosure of other digital assets of principal. Unless otherwise ordered by the court, directed by the principal, or provided by a power of attorney, a custodian shall disclose to an agent with specific authority over digital assets, or general authority to act on behalf of a principal, a catalogue of electronic communications […]
Section 111 – Disclosure of digital assets held in trust when trustee is original user.
Effective 5/9/2017 75-11-111. Disclosure of digital assets held in trust when trustee is original user. Unless otherwise ordered by the court or provided in a trust, a custodian shall disclose to a trustee that is an original user of an account any digital asset of the account held in trust, including a catalogue of electronic […]
Section 112 – Disclosure of contents of electronic communications held in trust when trustee not original user.
Effective 5/9/2017 75-11-112. Disclosure of contents of electronic communications held in trust when trustee not original user. Unless otherwise ordered by the court, directed by the user, or provided in a trust, a custodian shall disclose to a trustee that is not an original user of an account the content of an electronic communication sent […]
Section 113 – Disclosure of other digital assets held in trust when trustee not original user.
Effective 5/9/2017 75-11-113. Disclosure of other digital assets held in trust when trustee not original user. Unless otherwise ordered by the court, directed by the user, or provided in a trust, a custodian shall disclose, to a trustee that is not an original user of an account, a catalogue of electronic communications sent or received […]
Section 114 – Disclosure of digital assets to conservator or guardian of protected person.
Effective 5/8/2018 75-11-114. Disclosure of digital assets to conservator or guardian of protected person. (1) After an opportunity for a hearing under Chapter 5, Protection of Persons Under Disability and Their Property, the court may grant a conservator or guardian access to the digital assets of a protected person. (2) Unless otherwise ordered by the […]
Section 115 – Fiduciary duty and authority.
Effective 5/9/2017 75-11-115. Fiduciary duty and authority. (1) The legal duties imposed on a fiduciary charged with managing tangible property apply to the management of digital assets, including: (a) the duty of care; (b) the duty of loyalty; and (c) the duty of confidentiality. (2) A fiduciary’s or designated recipient’s authority with respect to a […]