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19-3B-412
Section 19-3B-412 Modification or termination because of unanticipated circumstances or inability
to administer trust effectively. (a) The court may modify the administrative or dispositive
terms of a trust or terminate the trust if, because of circumstances not anticipated by the
settlor, modification or termination will further the purposes of the trust. To the extent
practicable, the modification must be made in accordance with the settlor's probable intention.
(b) The court may modify the administrative terms of a trust if continuation of the trust
on its existing terms would be impracticable or wasteful or impair the trust's administration.
(c) Upon termination of a trust under this section, the trustee shall distribute the trust
property in a manner consistent with the purposes of the trust. (Act 2006-216, p. 314, §1.)...
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19-3D-2
Section 19-3D-2 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. DEFINITIONS. In this
chapter the following terms have the following meanings: (1) APPOINTIVE PROPERTY. The property
or property interest subject to a power of appointment. (2) ASCERTAINABLE STANDARD. A standard
relating to an individual's health, education, support, or maintenance within the meaning
of 26 U.S.C. Section 2041(b)(1)(A), as amended, or 26 U.S.C. Section 2514(c)(1), as amended,
and any applicable regulations. (3) AUTHORIZED FIDUCIARY. (A) A trustee or other fiduciary,
other than a settlor, that has the discretion to distribute or direct a trustee to distribute
part or all of the principal of the first trust to one or more current beneficiaries; (B)
a special fiduciary appointed under Section 19-3D-9; or (C) a special-needs fiduciary under
Section 19-3D-13. (4) BENEFICIARY. A person that: (A) has a present or...
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12-15-314
care to participate in activities that are age or developmentally appropriate for the child
based on a reasonable and prudent parent standard, provided the activities are consistent
with provisions of any existing court order, individualized service plan, or promulgated policy
of the department that provides guidance to caregivers concerning the reasonable and prudent
parent standard. The guidance shall include factors for the caregiver to consider prior to
allowing a child to participate in age or developmentally appropriate normal childhood activities.
(2) A caregiver shall be immune from liability in a civil action to recover damages for injury,
death, or loss to person or property that results from a caregiver's decisions using a reasonable
and prudent parent standard. This subsection shall not be construed to remove or limit any
existing liability protection provided by law. (Act 2008-277, p. 441, §18; Act 2010-712,
p. 1744, §13; Act 2016-129, p. 290, §1; Act 2018-273, §1.)...
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19-3B-414
Section 19-3B-414 Modification or termination of uneconomic trust. (a) After notice to the
qualified beneficiaries, the trustee of a trust consisting of trust property having a total
value less than $50,000 may terminate the trust if the trustee concludes that the value of
the trust property is insufficient to justify the cost of administration. (b) The court may
modify or terminate a trust or remove the trustee and appoint a different trustee if it determines
that the value of the trust property is insufficient to justify the cost of administration.
(c) Upon termination of a trust under this section, the trustee shall distribute the trust
property in a manner consistent with the purposes of the trust. (d) This section does not
apply to an easement for conservation or preservation. (Act 2006-216, p. 314, §1.)...
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19-3B-413
Section 19-3B-413 Cy pres. (a) Except as otherwise provided in subsection (b), if a particular
charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful: (1)
the trust does not fail, in whole or in part; (2) the trust property does not revert to the
settlor or the settlor's successors in interest; and (3) the court may apply cy pres to modify
or terminate the trust by directing that the trust property be applied or distributed, in
whole or in part, in a manner consistent with the settlor's charitable purposes. (b) A provision
in the terms of a charitable trust that would result in distribution of the trust property
to a noncharitable beneficiary prevails over the power of the court under subsection (a) to
apply cy pres to modify or terminate the trust only if, when the provision takes effect: (1)
the trust property is to revert to the settlor and the settlor is still living; or (2) fewer
than 21 years have elapsed since the date of the trust's creation....
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8-20-5
Section 8-20-5 Limitations on cancellations, modifications, terminations, and nonrenewals of
franchise relationships. (a) Notwithstanding the terms, provisions, or conditions of any agreement
or franchise or notwithstanding the terms or provisions of any waiver, no manufacturer shall
cancel, terminate, modify, fail to renew, or refuse to continue any franchise relationship
with a licensed new motor vehicle dealer unless the manufacturer has: (1) Satisfied the notice
requirement of this section. (2) Acted in good faith as defined in this chapter. (3) Has good
cause for the cancellation, termination, modification, nonrenewal, or noncontinuance. (b)
Notwithstanding the terms, provisions, or conditions of any agreement or franchise or the
terms or provisions of any waiver, good cause shall exist for the purposes of a termination,
cancellation, modification, nonrenewal, or noncontinuance when: (1) There is a failure by
the new motor vehicle dealer to comply with a provision of the franchise...
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19-3B-410
Section 19-3B-410 Modification or termination of trust; proceedings for approval or disapproval.
(a) In addition to the methods of termination prescribed by Sections 19-3B-411 through 19-3B-414,
a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no
purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful,
contrary to public policy, or impossible to achieve. (b) A proceeding to approve or disapprove
a proposed modification or termination under Sections 19-3B-411 through 19-3B-416, or trust
combination or division under Section 19-3B-417, may be commenced by a trustee or beneficiary.
The settlor of a charitable trust may maintain a proceeding to modify the trust under Section
19-3B-413. (Act 2006-216, p. 314, §1.)...
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19-3B-105
Section 19-3B-105 Default and mandatory rules. (a) 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. (b) The terms of a trust prevail over any provision
of this chapter except: (1) the requirements for creating a trust; (2) the duty of a trustee
to act in good faith and in accordance with the terms and purposes of the trust and the interest
of the beneficiaries; (3) the requirement that a trust and its terms be for the benefit of
its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public
policy, and possible to achieve; (4) the power of the court to modify or terminate a trust
under Sections 19-3B-410 through 19-3B-416; (5) the effect of a spendthrift provision and
the rights of certain creditors and assignees to reach a trust as provided in Article 5; (6)
the power of the court under Section 19-3B-702 to require,...
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19-3A-106
Section 19-3A-106 Conversion to unitrust. (a) Unless expressly prohibited by the governing
instrument, a trustee may convert a trust into a unitrust as described in this section if
all of the following apply: (1) The trustee has concluded that the conversion will enable
the trustee to better carry out the intent of the settlor or testator and the purposes of
the trust. (2) The trustee gives written notice of the trustee's intention to convert the
trust into a unitrust, including the trustee's initial decisions as set forth below, to all
the qualified beneficiaries. The written notice shall include the following: a. An explanation
of how the unitrust will operate; b. The effective date of the conversion to a unitrust; c.
The unitrust percentage to be used; d. The provisions for prorating a unitrust distribution
for a short year in which a beneficiary's right to payments commences or ceases; e. Whether
the net fair market value of the trust assets will be determined annually or averaged...
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19-3B-201
Section 19-3B-201 Role of court in administration of trust. (a) The court may intervene in
the administration of a trust to the extent its jurisdiction is invoked by an interested person
or as provided by law. (b) A trust is not subject to continuing judicial supervision unless
ordered by the court. (c) A judicial proceeding involving a trust may relate to any matter
involving the trust's administration, including a request for instructions and an action to
declare rights. (d) A judicial proceeding involving a trust may relate to any matter involving
the trust's administration, including, but not being limited to a proceeding to: (1) request
instructions; (2) determine the existence or nonexistence of any immunity, power, privilege,
duty or right; (3) approve a nonjudicial settlement; (4) interpret or construe the terms of
the trust; (5) determine the validity of a trust or of any of its terms; (6) approve a trustee's
report or accounting or compel a trustee to report or account; (7)...
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