§44D-8B-21. Need to Distribute Not Required
An authorized fiduciary may exercise the decanting power whether or not under the first trusts discretionary distribution standard the fiduciary would have made or could have been compelled to make a discretionary distribution of principal at the time of the exercise.
§44D-8B-22. Saving Provision
(a) If exercise of the decanting power would be effective under this article except that the second-trust instrument in part does not comply with this article, the exercise of the power is effective and the following rules apply with respect to the principal of the second trust attributable to the exercise of the power: (1) […]
§44D-8B-23. Trust for Care of Animal
(a) In this section: (1) “Animal trust” means a trust or an interest in a trust created to provide for the care of one or more animals.
§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
§44D-8B-16. Change in Compensation
(a) If a first-trust instrument specifies an authorized fiduciarys compensation, the fiduciary may not exercise the decanting power to increase the fiduciarys compensation above the specified compensation unless: (1) All qualified beneficiaries of the second trust consent to the increase in a signed record; or
§44D-8B-17. Relief From Liability and Indemnification
(a) Except as otherwise provided in this section, a second-trust instrument may not relieve an authorized fiduciary from liability for breach of trust to a greater extent than the first-trust instrument. (b) A second-trust instrument may provide for indemnification of an authorized fiduciary of the first trust or another person acting in a fiduciary capacity […]
§44D-8B-18. Removal or Replacement of Authorized Fiduciary
An authorized fiduciary may not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless: (1) The person holding the power consents to the modification in a signed record and the modification applies only to the person;
§44D-8B-4. Fiduciary Duty
(a) In exercising the decanting power, an authorized fiduciary shall act in accordance with its fiduciary duties, including the duty to act in accordance with the purposes of the first trust. (b) This article does not create or imply a duty to exercise the decanting power or to inform beneficiaries about the applicability of this […]
§44D-8B-5. Application; Governing Law
This article applies to a trust created before, on, or after the effective date of this article which: (1) Has its principal place of administration in this state, including a trust whose principal place of administration has been changed to this state; or