11-32-7
Section 11-32-7 Powers of authority. (a) The authority shall exercise powers and duties necessary
to the discharge of its powers and duties in corporate form as follows: (1) Have succession
by its corporate name in perpetuity subject to Section 11-32-20. (2) Sue and be sued in its
own name in civil suits and actions and defend suits against it. (3) Adopt and make use of
a corporate seal and alter the same at its pleasure. (4) Adopt and alter bylaws for the regulation
and conduct of its affairs and business. (5) Acquire, receive, take, by purchase, gift, lease,
devise, or otherwise, and hold property of every description, real, personal, or mixed, whether
located in one or more counties or municipalities and whether located within or outside the
authorizing county. (6) Make, enter into, and execute contracts, agreements, leases, and other
instruments and take other actions as may be necessary or convenient to accomplish any purpose
for which the authority was organized, or exercise any...
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43-2-751
Section 43-2-751 Action by creditor to recover dividend. (a) Any creditor of an insolvent estate,
whose claim is not barred, may bring a civil action against any person who has received any
dividend of such estate and may recover from him such an amount of the dividend he has received
as shall be in the same proportion thereto as the claim of the plaintiff bears to the debts
of the estate distributed, including the claim of the plaintiff. (b) But, in such action,
the defendant may reduce the recovery, by showing that such dividend has been reduced by the
recovery or payment of the claims of other creditors of such estate in the like proportion.
(c) In such action, the plaintiff must pay the costs, unless he proves that he has exhibited
his claim and demanded of the defendant his proportion of the dividend received by him before
the commencement of the action. (Code 1852, §§1864-1866; Code 1867, §§2213-2215; Code
1876, §§2585-2587; Code 1886, §§2255-2257; Code 1896, §§323-325;...
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19-3-29
Section 19-3-29 Presentation of claims; verification; receipt. All claims against the trust
estate must be presented by or on the day specified in such order and notice, by filing the
claim, or a statement thereof, in the office of the register or clerk, verified as claims
against the estate of a decedent are required to be verified, before a notary public or other
officer authorized to take and certify affidavits within or beyond the state; and all claims
not so presented are precluded from sharing in the assignment or participating in any dividend
that may be made from the trust estate, until all presented and allowed claims shall have
been paid in full. But when a claim has been so presented prior to giving of such notice,
a second presentation is not necessary. Any defect or insufficiency in the affidavit may be
remedied by amendment at any time. The register or clerk must give to the creditor, his agent
or attorney a receipt for his claim, and must indorse thereon the date of...
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19-3B-1005
Section 19-3B-1005 Limitation of action against trustee. (a) A beneficiary may not commence
a proceeding against a trustee for breach of trust more than two years after the date the
beneficiary or a representative of the beneficiary was sent a report that adequately disclosed
the existence of a potential claim for breach of trust. (b) A report adequately discloses
the existence of a potential claim for breach of trust if it provides sufficient information
so that the beneficiary or representative knows of the potential claim or should have inquired
into its existence. (c) If subsection (a) does not apply, then a judicial proceeding by a
beneficiary against a trustee for breach of trust must be commenced within two years after
the first to occur of: (1) the removal, resignation, or death of the trustee; (2) the termination
of the beneficiary's interest in the trust; or (3) the termination of the trust. (Act 2006-216,
p. 314, §1.)...
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19-3B-408
Section 19-3B-408 Trust for care of animal. (a) A trust may be created to provide for the care
of an animal alive during the settlor's lifetime. The trust terminates upon the death of the
animal or, if the trust was created to provide for the care of more than one animal alive
during the settlor's lifetime, upon the death of the last surviving animal. (b) A trust authorized
by this section may be enforced by a person appointed in the terms of the trust or, if no
person is so appointed, by a person appointed by the court. A person having an interest in
the welfare of the animal may request the court to appoint a person to enforce the trust or
to remove a person appointed. (c) Property of a trust authorized by this section may be applied
only to its intended use, except to the extent the court determines that the value of the
trust property exceeds the amount required for the intended use. Except as otherwise provided
in the terms of the trust, property not required for the intended use...
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27-17A-31
Section 27-17A-31 Deposits into trust; trustee responsibilities; interests in funds. (a) Any
person who is paid, collects, or receives funds under a preneed contract for funeral services
or funeral merchandise to be funded by trust shall deposit in trust an amount at least equal
to the sum of 75 percent of the amount collected on the purchase price for all funeral services
and funeral merchandise sold, transportation, and facilities rented other than outer burial
containers, 60 percent of the amount collected on the purchase price for outer burial containers,
110 percent of the wholesale cost of memorials from the amount collected on the purchase price
of memorials, and 100 percent of the amount collected on the purchase price for all cash advance
items sold. (b) All deposits shall be made within 30 days after the end of the calendar month
in which the preneed contract is paid in full, unless, prior to that time, all liabilities
of the seller under the preneed contract to deliver the...
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43-2-373
Section 43-2-373 Payment of claims barred by statute of limitations. No claim against the estate
of a decedent whether in favor of the personal representative or any other person, which was
barred by the statute of limitations at the time of the death of such decedent, shall be paid
by or allowed to the personal representative, unless the payment of such claim be expressly
directed by a testator in his will. (Code 1896, §128; Code 1907, §2599; Code 1923, §5824;
Code 1940, T. 61, §220.)...
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6-6-225
Section 6-6-225 Questions on administration of trust or estate of a decedent, etc. Any person
interested as or through an executor, administrator, trustee, guardian, or other fiduciary,
creditor, devisee, legatee, heir, next of kin, or cestui que trust, in the administration
of a trust, or of the estate of a decedent, infant, incompetent, or insolvent may have a declaration
of rights or legal relations in respect thereto: (1) To ascertain any class of creditors,
devisees, legatees, heirs, next of kin, or other; (2) To direct the executors, administrators,
or trustees to do or abstain from doing any particular act in their fiduciary capacity; or
(3) To determine any question arising in the administration of the estate or trust, including
questions of construction of wills and other writings. (Acts 1935, No. 355, p. 777; Code 1940,
T. 7, §159.)...
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10A-10-1.19
Section 10A-10-1.19 Liability of trustee. (a) Subject to the provisions of subsection (b),
a trustee of a real estate investment trust is not personally liable for the obligations of
the real estate investment trust. (b) If a trustee otherwise would be liable, the provisions
of this subsection do not relieve the trustee from any liability to the trust or its security
holders for any act that constitutes: (1) Bad faith. (2) Willful misfeasance. (3) Gross negligence.
(4) Reckless disregard of the trustee's duties. (c)(1) Except as provided in subdivision (2),
the declaration of trust of a real estate investment trust may include any provision expanding
or limiting the liability of its trustees and officers to the trust or its shareholders for
money damages. (2) The declaration of trust of a real estate investment trust may not include
any provision that restricts or limits the liability of its trustees or officers to the trust
or its shareholders: a. To the extent that it is proven that...
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19-3A-201
Section 19-3A-201 Determination and distribution of net income. After the decedent's death,
in the case of a decedent's estate, or after an income interest in a trust ends, the following
rules apply: (a) If property is specifically given to a beneficiary by will or by trust, then
the fiduciary of the decedent's estate or of the terminating income interest shall distribute
the net income and net principal receipts to the beneficiary who is to receive the specifically
given property, subject to the following rules: (1) The net income and principal receipts
from the specifically given property are determined by including all of the amounts the fiduciary
receives or pays with respect to the specifically given property, whether such amounts accrued
or became due before, on, or after the date of the decedent's death or the date upon which
an income interest in a trust terminates, and by making a reasonable provision for amounts
that the fiduciary believes the decedent's estate or terminating...
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