75-7-104. Knowledge. (1) Subject to Subsection (2), a person has knowledge of a fact if the person: (a) has actual knowledge of it; (b) has received a notice or notification of it; or (c) from all the facts and circumstances known to the person at the time in question, has reason to know it. (2) […]
Effective 5/14/2019 75-7-105. Default and mandatory rules. (1) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary. (2) Except as specifically provided in this chapter, the terms of a trust prevail over any […]
75-7-106. Common law of trusts — Principles of equity. The common law of trusts and principles of equity supplement this chapter, except to the extent modified by this chapter or laws of this state. Enacted by Chapter 89, 2004 General Session
Effective 5/9/2017 75-7-107. Governing law. (1) For purposes of this section: (a) “Foreign trust” means a trust that is created in another state or country and valid in the state or country in which the trust is created. (b) “State law provision” means a provision that the laws of a named state govern the validity, […]
75-7-108. Principal place of administration. (1) Without precluding other means for establishing a sufficient connection with the designated jurisdiction, terms of a trust designating the principal place of administration are valid and controlling if: (a) a trustee’s principal place of business is located in or a trustee is a resident of the designated jurisdiction; or […]
75-7-109. Methods and waiver of notice. (1) Notice to a person under this chapter or the sending of a document to a person under this chapter must be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. Permissible methods of notice or for sending […]
75-7-110. Nonjudicial settlement agreements. (1) For purposes of this section, “interested persons” means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court. (2) Except as otherwise provided in Subsection (3), interested persons may enter into a binding nonjudicial settlement agreement with respect […]
75-7-111. Rules of construction. The rules of construction that apply to the interpretation of and disposition of property by will or other governing instrument, as defined in Section 75-1-201, also apply as appropriate to the interpretation of the terms of a trust and the disposition of the trust property. Enacted by Chapter 89, 2004 General […]
75-7-112. Penalty provisions. A provision in a trust instrument purporting to penalize a beneficiary by charging the beneficiary’s interest in the trust, or to penalize the beneficiary in another manner, for instituting a proceeding to challenge the acts of the trustee or other fiduciary of a trust, or for instituting other proceedings relating to the […]
