19-3-120.2
Section 19-3-120.2 Standards for fiduciary investment and management. (a) When investing, reinvesting,
purchasing, acquiring, exchanging, selling and managing property for the benefit of another,
a trustee, executor, administrator, guardian, conservator or other fiduciary, other than a
trustee governed by Chapter 3B, shall act with the care, skill, prudence, and diligence under
the circumstances then prevailing that a prudent person acting in a like capacity and familiar
with such matters would use to attain the purposes of the account. In making investment decisions,
a fiduciary shall consider the role that the investment plays within the account's overall
portfolio of assets and may consider the general economic conditions, the anticipated tax
consequences of the investment, the anticipated duration of the account and the needs of the
beneficiaries of the account. (b) The propriety of an investment decision is to be determined
by what a fiduciary knew or should have known at the time...
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26-8-44
Section 26-8-44 Removal of property or money when minor or ward and conservator nonresidents
- Authorization generally. When the conservator and the minor or ward are both nonresidents
and the minor or ward is entitled to any property in this state or is or will be entitled
to any money from any estate, the administration of which is pending in this state, whether
such estate shall or shall not have been finally settled, and the money or property may be
removed to another state without conflict with any restriction or limitation thereupon and
without impairing the right of the minor or ward thereto, such money and property may be received
and removed to the state of the residence of the minor or ward upon application of the conservator
to the judge of probate of the county in which the property of the minor or ward or the principal
part thereof may be or in which such administration may be pending in the manner following.
(Code 1852, §2032; Code 1867, §2442; Code 1876, §2797; Code...
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43-2-154
Section 43-2-154 Purchase of property sold under execution. The executor or administrator of
any decedent may purchase for the estate property sold under any judgment of the circuit court
or under any execution in his favor as such executor or administrator. (Code 1886, §2281;
Code 1896, §350; Code 1907, §2817; Code 1923, §6056; Code 1940, T. 61, §133.)...
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43-2-194
Section 43-2-194 Manner of administering and settling estate. When letters are granted to a
nonresident executor or administrator, the assets of the estate upon which such letters are
granted, which may be within this state at the date of such letters, shall in all respects
be administered and settled as if such letters had been issued to a resident executor or administrator.
(Code 1876, §2381; Code 1886, §2040; Code 1896, §84; Code 1907, §2560; Code 1923, §5783;
Code 1940, T. 61, §145.)...
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10A-2A-15.11
Section 10A-2A-15.11 Authority of foreign corporation to act as fiduciary. (a) Any foreign
corporation may act in this state as trustee, personal representative, executor, administrator
of any kind, guardian, conservator, or in any other like or similar fiduciary capacity, whether
the appointment is by law, will, deed, inter vivos trust, mortgage, deed of trust, court order
or otherwise, without the necessity of complying with any law of this state relating to the
qualification of foreign corporations to do business in this state or the licensing of foreign
corporations to do business in this state and notwithstanding any prohibition, limitation,
or restriction contained in any law of this state subject to the following conditions: (1)
The foreign corporation is authorized to act in a fiduciary capacity, or capacities, in the
state in which it is incorporated or, if the foreign corporation is a national banking association
or other corporation organized under the laws of the United...
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43-2-211
Section 43-2-211 Right to maintain actions and recover or receive property in state. Any executor
or administrator who has obtained letters testamentary or of administration on the estate
of a person who was not, at the time of his death, an inhabitant of this state, in any other
of the United States, and who has not obtained letters of administration thereon in this state,
as authorized by article 8 of chapter 2 of this title, may maintain civil actions and recover
or receive property in this state: (1) By recording, at any time before judgment or the receipt
of the property, a copy of his letters, duly authenticated according to the laws of the United
States, in the office of the judge of probate of the county in which such civil action is
brought or property received; or (2) By giving bond, with at least two good and sufficient
sureties, payable to and approved by such judge of probate, in such amount as he may prescribe,
to be determined with reference to the value of the property...
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43-2-413
Section 43-2-413 Notice of sale. When the application is granted for the sale of any personal
property, the executor or administrator must give notice of the day, place and terms of sale,
and a description of the property to be sold, by advertisement for three successive weeks
in some newspaper published in the county where the sale is to take place, or, by posting
notice at the courthouse door and at three other public places in the county. But when the
property is perishable, or the expense of keeping it is very great, the sale may be made after
five days' notice, which may be given by one insertion in a newspaper published in the county
where the sale is to take place, or, if there be no such paper, by posting at the courthouse
door, and at three other public places in the county. In addition to the notice prescribed
in this article, the court may direct the giving of notice by printed handbills, or posters,
to be distributed and posted in the manner best calculated to give extended...
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43-2-562
Section 43-2-562 Settlement by sureties of deceased executor or administrator - Petition for
order requiring sureties to make settlement. In any case where an executor or administrator
shall die without having made a final settlement of his administration and a successor is
appointed, such succeeding executor or administrator or the heirs and distributees, legatees
or cestui que trust may, by petition to the court in which such estate is pending, have an
order requiring the sureties on such bond to make settlement of such estate in said court
after 10 days' notice of the day fixed by the court or judge thereof. (Acts 1915, No. 98,
p. 138; Code 1923, §5937; Code 1940, T. 61, §332.)...
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35-6-65
Section 35-6-65 Article applicable to executors or administrators of deceased parties. Should
any of the parties interested in property, real or personal, held by joint owners or tenants
in common, die, the provisions of this article shall fully apply to his executor or administrator.
(Code 1867, §3126; Code 1876, §3520; Code 1886, §3260; Code 1896, §3185; Code 1907, §5229;
Code 1923, §9329; Code 1940, T. 47, §217.)...
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43-2-416
Section 43-2-416 When bid rejected and sale postponed. When the highest amount bid for the
property, or any part thereof, is, in the opinion of the executor or administrator, greatly
less than its fair value, he may withdraw the property and postpone the sale. (Code 1896,
§148; Code 1907, §2612; Code 1923, §5839; Code 1940, T. 61, §234.)...
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