§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-19. Tax-Related Limitations
(a) In this section: (1) “Grantor trust” means a trust as to which a grantor of a first trust is considered the owner under 26 U.S.C. 671-677 or 26 U.S.C. 679.
§44D-8B-20. Duration of Second Trust
(a) Subject to subsection (b) of this section, a second trust may have a duration that is the same as or different from the duration of the first trust. (b) To the extent that property of a second trust is attributable to property of the first trust, the property of the second trust is subject […]
§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-6. Reasonable Reliance
A trustee or other person that reasonably relies on the validity of a distribution of part or all of the property of a trust to another trust, or a modification of a trust, under this article, law of this state other than this article, or the law of another jurisdiction is not liable to any […]
§44D-8B-7. Notice; Exercise of Decanting Power
(a) In this section, a notice period begins on the day notice is given under subsection (c) of this section and ends 59 days after the day notice is given. (b) Except as otherwise provided in this article, an authorized fiduciary may exercise the decanting power without the consent of any person and without court […]
§44D-8B-8. Representation
(a) Notice to a person with authority to represent and bind another person under a first-trust instrument or the provisions of this chapter has the same effect as notice given directly to the person represented. (b) Consent of or waiver by a person with authority to represent and bind another person under a first-trust instrument […]