§44D-8B-24. Terms of Second Trust
Any reference in this chapter to a trust instrument or terms of the trust includes a second-trust instrument and the terms of the second trust.
§44D-8B-25. Grantor
(a) For purposes of law of this state other than this article and subject to subsection (b) of this section, a grantor of a first trust is considered to be the grantor of the second trust with respect to the portion of the principal of the first trust subject to the exercise of the decanting […]
§44D-8B-26. Later-Discovered Property
(a) Except as otherwise provided in subsection (c) of this section, if exercise of the decanting power was intended to distribute all the principal of the first trust to one or more second trusts, later-discovered property belonging to the first trust and property paid to or acquired by the first trust after the exercise of […]
§44D-8B-27. Obligations
A debt, liability, or other obligation enforceable against property of a first trust is enforceable to the same extent against the property when held by the second trust after exercise of the decanting power.
§44D-8B-28. 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.
§44D-8B-29. Relation to Electronic Signatures in Global and National Commerce Act
This article 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 in 103(b) of that act, 15 U.S.C. 7003(b).
§44D-8B-30. Severability
If any provision of this article or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this article which can be given effect without the invalid provision or application, and to this end the provisions of this article are severable.
§44D-8B-31. Effective Date
This article takes effect on July 1, 2020.
§44D-8B-14. Protection of Charitable Interest
(a) In this section: (1) “Determinable charitable interest” means a charitable interest that is a right to a mandatory distribution currently, periodically, on the occurrence of a specified event, or after the passage of a specified time and which is unconditional or will be held solely for charitable purposes.
§44D-8B-15. Trust Limitation on Decanting
(a) An authorized fiduciary may not exercise the decanting power to the extent the first-trust instrument expressly prohibits exercise of: (1) The decanting power; or