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19-3D-17
Section 19-3D-17 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. 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
under the first trust for any liability or claim that would have been payable from the first
trust if the decanting power had not been exercised. (c) A second-trust instrument may not
reduce fiduciary liability in the aggregate. (d) Subject to subsection (c), a second-trust
instrument may divide and reallocate fiduciary powers among fiduciaries, including one or
more trustees, distribution advisors, investment advisors,...
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19-3D-16
Section 19-3D-16 Change in compensation. (a) If a first-trust instrument specifies an authorized
fiduciary's compensation, the fiduciary may not exercise the decanting power to increase the
fiduciary's compensation above the specified compensation unless: (1) all qualified beneficiaries
of the second trust consent to the increase in a signed record; or (2) the increase is approved
by the court. (b) If a first-trust instrument does not specify an authorized fiduciary's compensation,
the fiduciary may not exercise the decanting power to increase the fiduciary's compensation
above the compensation permitted by Chapter 3B (commencing with Section 19-3B-101) of this
title, unless: (1) all qualified beneficiaries of the second trust consent to the increase
in a signed record; or (2) the increase is approved by the court. (c) A change in an authorized
fiduciary's compensation which is incidental to other changes made by the exercise of the
decanting power is not an increase in the fiduciary's...
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35-4-299
Section 35-4-299 Consent of third persons to execution of power. When the consent of a third
person to the execution of a power is requisite, such consent must be expressed in the instrument
by which the power is executed or must be certified in writing thereon; in the first case,
the instrument and in the second, the writing must be signed by the party whose consent is
required. (Code 1852, §1336; Code 1867, §1606; Code 1876, §2215; Code 1886, §1861; Code
1896, §1057; Code 1907, §3434; Code 1923, §6939; Code 1940, T. 47, §87.)...
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19-3D-25
Section 19-3D-25 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. SETTLOR. (a) For purposes
of laws of this state other than this chapter and subject to subsection (b), a settlor of
a first trust is deemed to be the settlor of the second trust with respect to the portion
of the principal of the first trust subject to the exercise of the decanting power. (b) In
determining settlor intent with respect to a second trust, the intent of a settlor of the
first trust, a settlor of the second trust, and the authorized fiduciary may be considered.
(Act 2018-519, §25.)...
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35-10-22
Section 35-10-22 Partial payments - When entered on margin of record. A mortgagee or the assignee
or transferee of a debt secured by mortgage, or trustee or his assignee or transferee or cestui
que trust of a deed of trust to secure a debt, who has received partial payment, if the mortgage
or deed of trust is of record, must, upon request in writing to enter the date and amount
of such partial payment by the mortgagor, or by a judgment creditor, or other creditor of
the mortgagor having a lien or claim on the property mortgaged, or by a purchaser from the
mortgagor, or upon the written request of the debtor in a deed of trust, enter on the margin
of the record of the mortgage or deed of trust the date and amount of such partial payment
or payments; a mortgagee or the assignee or transferee of a debt secured by mortgage, or trustee
or his assignee or transferee or cestui que trust of a deed of trust to secure a debt, if
the mortgage or deed of trust is of record, must, upon request in...
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35-10-27
Section 35-10-27 Entry of full payment or satisfaction in record - Generally. If a mortgage
or deed of trust which is of record has been fully paid or satisfied, the mortgagee or transferee
or assignee of the mortgage, or trustee or cestui que trust of the deed of trust, who has
received payment or satisfaction, must on request in writing of the mortgagor, or of a creditor
of the mortgagor having a lien or claim on the property mortgaged, or of a purchaser from
the mortgagor, or owner of the lands mortgaged, or a junior mortgagee, or of the debtor in
a deed of trust, enter the fact of payment or satisfaction on the margin of the record of
the mortgage or deed of trust. Such entry must be witnessed by the judge of probate, or his
clerk, who, in his official capacity, must attest said satisfaction, and for making such attestation
the judge of probate is entitled to a fee of $.25. Or satisfaction may be made by an attorney-in-fact
authorized by an instrument executed and acknowledged as...
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27-41-30
Section 27-41-30 Particular investments - Loans, notes, etc., secured by mortgages and leases
on real property. An insurer may invest in loans, notes, bonds, or other evidences of indebtedness
of any person up to the fair value of real property securing said indebtedness, upon compliance
with the following conditions and provisions: (1) The indebtedness must be secured by a first
mortgage lien on real property having a fair value of not less than the principal amount of
the loan, except as provided in subdivision (8) of this section; (2) The indebtedness must
be additionally secured by a lease on said real property, which lease must be assigned and
transferred by the lessor to the lender or to a trustee of the lender under a trust instrument;
(3) The lease so assigned as additional security must be noncancellable and may be terminated
only upon such conditions as are generally provided in commercial leases, such as, for example,
destruction by fire, tornado, or similar hazard or...
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19-3-25
Section 19-3-25 Appointment and duties of appraisers. On the filing of such inventory, the
register or clerk must indorse upon each of such copies the fact and date of such filing and
must appoint three competent and disinterested persons, who must not be of kin or of counsel
to any person interested in the trust estate, appraisers of and in each county in which any
part of the trust property may be, and must attach to the commission one of the copies of
such inventory, filed by the trustee; and the appraisers must, in writing, appraise at its
true value, the property described in such inventory, and set down in figures opposite each
item, the appraised value thereof, add each column and carry forward the result so as to show
the total valuation placed upon such property, and verify the same by affidavit and make return
thereof to the register or clerk who must record the commission to the appraisers and such
combined inventory and appraisement, together with the affidavits appended...
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35-4-58
Section 35-4-58 Mode of recording generally; time stamp; fees. Judges of probate are to procure,
at the expense of their counties, large and well-bound books, in which must be recorded in
a fair hand, or by printing the same, or by the use of a typewriter or other writing or printing,
photograph or photostat machine, word for word, conveyances of property and all other instruments
authorized to be recorded, with the acknowledgments, proofs, schedules, plats, surveys, etc.,
belonging thereto; and, at the foot or in the margin of the record of each conveyance or other
instrument, the day of the month and year of the delivery of the same for record must be specified.
The judge making the record of any conveyance or other instrument must certify on the same
when it was received and recorded and in what book and page the same is recorded and must
deliver it to the party entitled thereto, or his order, on the payment of the fees of registration;
but the judge of probate may refuse to indorse...
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10A-2-7.30
Section 10A-2-7.30 Voting trust. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE
JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) One or more shareholders
may create a voting trust, conferring on a trustee the right to vote or otherwise act for
them, by signing an agreement setting out the provisions of the trust, which may include anything
consistent with its purpose, and transferring their shares to the trustee. When a voting trust
agreement is signed, the trustee shall prepare a list of the names and addresses of all owners
of beneficial interests in the trust, together with the number and class of shares each transferred
to the trust, and deliver copies of the list and agreement to the corporation's principal
office. (b) A voting trust becomes effective on the date the first shares subject to the trust
are registered in the trustee's name. A voting trust is valid for not more than 10 years after
its effective date unless extended under subsection (c)....
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