§44D-8A-801. Short Title
This article may be cited as the West Virginia Uniform Directed Trust Act.
§44D-8A-802. Definitions
In addition to the definitions contained in 44D-1-103 of this code, as used in this article: (1) “Breach of trust” means a violation by a trust director or trustee of a duty imposed on that director or trustee by the terms of the trust, this article, or law of this state, other than this article […]
§44D-8A-803. Application; Principal Place of Administration
The provisions of the West Virginia Uniform Directed Trust Act apply to a trust, whenever created, that has its principal place of administration in this state, subject to the following rules: (a) If the trust was created before the effective date of this article, this article applies only to a decision or action occurring on […]
§44D-8A-804. Common Law and Principles of Equity
The common law and principles of equity supplement this article, except to the extent modified by this article or law of this state other than this article.
§44D-8A-805. Exclusions
(a) 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. (b) This article does not apply to a: (1) Power of appointment;
§44D-8A-806. Powers of Trust Director
(a) Subject to 44D-8A-807 of this code, the terms of a trust may grant a power of direction to a trust director. (b) Unless the terms of a trust provide otherwise: (1) A trust director may exercise any further power appropriate to the exercise or nonexercise of a power of direction granted to the director […]
§44D-8A-807. Limitations on Trust Director
A trust director is subject to the same rules as a trustee in a like position and under similar circumstances in the exercise or nonexercise of a power of direction or further power under 44D-8A-806(b)(1) of this code regarding: (1) A payback provision in the terms of a trust necessary to comply with the reimbursement […]