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19-3D-11
Section 19-3D-11 Decanting power under expanded distributive dicretion. (a) In this section
the following terms have the following meanings: (1) NONCONTINGENT RIGHT. A right that is
not subject to the exercise of discretion or the occurrence of a specified event that is not
certain to occur. The term does not include a right held by a beneficiary if any person has
discretion to distribute property subject to the right to any person other than the beneficiary
or the beneficiary's estate. (2) PRESUMPTIVE REMAINDER BENEFICIARY. A qualified beneficiary
other than a current beneficiary. (3) SUCCESSOR BENEFICIARY. A beneficiary that is not a qualified
beneficiary on the date the beneficiary's qualification is determined. The term does not include
a person that is a beneficiary only because the person holds a nongeneral power of appointment.
(4) VESTED INTEREST. (A) A right to a mandatory distribution that is a noncontingent right
as of the date of the exercise of the decanting power; (B) a...
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40-15B-6
Section 40-15B-6 Insulated property: advancement of tax. (a) In this section: (1) "Advanced
fraction" means a fraction that has as its numerator the amount of the advanced tax and
as its denominator the value of the interests in insulated property to which that tax is attributable.
(2) "Advanced tax" means the aggregate amount of estate tax attributable to interests
in insulated property which is required to be advanced by uninsulated holders under subsection
(c). (3) "Insulated property" means property subject to a time-limited interest
which is included in the apportionable estate but is unavailable for payment of an estate
tax because of impossibility or impracticability. (4) "Uninsulated holder" means
a person who has an interest in uninsulated property. (5) "Uninsulated property"
means property included in the apportionable estate other than insulated property. (b) If
an estate tax is to be advanced pursuant to subsection (c) by persons holding interests in
uninsulated property...
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19-3B-802
Section 19-3B-802 Duty of loyalty. (a) A trustee shall administer the trust solely in the interests
of the beneficiaries. (b) Subject to the rights of persons dealing with or assisting the trustee
as provided in Section 19-3B-1012, a sale, encumbrance, or other transaction involving the
investment or management of trust property entered into by the trustee for the trustee's own
personal account or which is otherwise affected by a conflict between the trustee's fiduciary
and personal interests is voidable by a beneficiary affected by the transaction unless: (1)
the transaction was authorized by the terms of the trust; (2) the transaction was approved
by the court; (3) the beneficiary did not commence a judicial proceeding within the time allowed
by Section 19-3B-1005; (4) the beneficiary consented to the trustee's conduct, ratified the
transaction, or released the trustee in compliance with Section 19-3B-1009; or (5) the transaction
involves a contract entered into or claim acquired by...
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42-2-4
Section 42-2-4 Appointment of guardian ad litem and counsel for infants and persons of unsound
mind. If the owner of the lands is an infant or is of unsound mind, the court, on the day
appointed for the hearing, must appoint a guardian ad litem to represent him, and the guardian
so appointed must file a written acceptance of the appointment, must appear and protect the
rights and interests of such infant or person of unsound mind and, if he deems it necessary,
may employ counsel to assist him. The compensation of such guardian and of his counsel must
be ascertained by the court and taxed as costs of the proceedings. (Code 1907, §2417; Code
1923, §3151; Code 1940, T. 59, §7.)...
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10A-8A-3.03
Section 10A-8A-3.03 Statement of authority. (a) A partnership may deliver to the Secretary
of State for filing a statement of authority, which: (1) must include the name of the partnership
and: (A) if the partnership has not filed a statement of partnership, a statement of not for
profit partnership, or a statement of limited liability partnership, (i) the street and mailing
addresses of its principal office and (ii) if the Secretary of State has assigned a unique
identifying number or other designation to the partnership, that number or designation; or
(B) if the partnership has filed a statement of partnership, a statement of not for profit
partnership, or a statement of limited liability partnership, (i) the street address and mailing
address of its principal office, (ii) the name, street address, and mailing address of its
registered agent, and (iii) the unique identifying number or other designation assigned to
the partnership by the Secretary of State. (2) with respect to any...
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40-29-22
Section 40-29-22 Lien for taxes - Validity and priority against certain persons. (a) Purchasers,
holders of security interests, mechanic's lienors, and judgment lien creditors. The lien imposed
by Section 40-29-20 shall not be valid as against any purchaser, holder of a security interest,
mechanic's lienor, or judgment lien creditor until notice thereof which meets the requirements
of subsection (f) has been filed by the Commissioner of Revenue or his delegate, and shall
not be perfected as against any purchaser, holder of a security interest, mechanic's lienor,
or judgment lien creditor until the date such notice is filed. (b) Protection for certain
interest even though notice filed. Even though notice of a lien imposed by Section 40-29-20
has been filed, such lien shall not be valid: (1) SECURITIES. With respect to a security (as
defined in subsection (g)(4)): a. As against a purchaser of such security who at the time
of purchase did not have actual notice or knowledge of the...
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43-8-75
Section 43-8-75 How elective share satisfied; what property applied first; apportionment of
others' liability for balance of elective share. (a) In the proceeding for an elective share,
values included in the estate which pass or have passed to the surviving spouse, or which
would have passed to the surviving spouse but were renounced, are applied first to satisfy
the elective share and to reduce any contributions due from other recipients of transfers
included in the estate. For purposes of this subsection, the electing spouse's beneficial
interest in any life estate or in any trust shall be computed as if worth one-half of the
total value of the property subject to the life estate, or of the trust estate, unless higher
or lower values for these interests are established by proof; provided, however, that, to
the extent that the electing spouse's beneficial interest is a life estate or is an interest
in a trust and is coupled with a general power of appointment (whether exercisable by...
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19-3D-14
Section 19-3D-14 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. PROTECTION OF CHARITABLE
INTEREST. (a) In this section the following terms have the following meanings: (1) DETERMINABLE
CHARITABLE INTEREST. 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. (2) UNCONDITIONAL.
Not subject to the occurrence of a specified event that is not certain to occur, other than
a requirement in a trust instrument that a charitable organization be in existence or qualify
under a particular provision of the United States Internal Revenue Code of 1986, as amended,
on the date of the distribution, if the charitable organization meets the requirement on the
date of determination. (b) If a first trust...
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10A-2A-7.29
Section 10A-2A-7.29 Inspectors of election. (a) The corporation shall, in advance of any meeting
of stockholders, appoint one or more inspectors to act at the meeting and make a written report
thereof. The corporation may designate one or more persons as alternate inspectors to replace
any inspector who fails to act. If no inspector or alternate is able to act at a meeting of
stockholders, the person presiding at the meeting shall appoint one or more inspectors to
act at the meeting. Each inspector, before entering upon the discharge of the duties of inspector,
shall take and sign an oath faithfully to execute the duties of inspector with strict impartiality
and according to the best of the inspector's ability. (b) The inspectors shall: (1) Ascertain
the number of shares of stock outstanding and the voting power of each; (2) Determine the
shares of stock represented at a meeting and the validity of proxies and ballots; (3) Count
all votes and ballots; (4) Determine and retain for a...
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26-10A-8
Section 26-10A-8 Consent or relinquishment by a minor parent. (a) Prior to a minor parent giving
consent a guardian ad litem must be appointed to represent the interests of a minor parent
whose consent is required. Any minor, 14 years of age and beyond, can nominate a guardian
ad litem either prior to the birth of the baby or thereafter. (b) A consent or relinquishment
executed by a parent who is a minor shall not be subject to revocation by reason of such minority.
(c) A minor father may give his implied consent by his actions. If a court finds by conclusive
evidence that a minor father has given implied consent to the adoption, notice and the appointment
of a guardian ad litem shall not be necessary. (Acts 1990, No. 90-554, p. 912, §8; Act 99-435,
p. 857, §1.)...
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