19-3D-20
Section 19-3D-20 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. DURATION OF SECOND
TRUST. (a) Subject to subsection (b), a second trust may have a duration that is the same
as or different from the duration of the first trust. (b) To the extent that property of a
second trust is attributable to property of the first trust, the property of the second trust
is subject to any rules governing maximum perpetuity, accumulation, or suspension of the power
of alienation which apply to property of the first trust. (Act 2018-519, §20.)...
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19-3D-21
Section 19-3D-21 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. NEED TO DISTRIBUTE
NOT REQUIRED. An authorized fiduciary may exercise the decanting power whether or not under
the first trust's discretionary distribution standard the fiduciary would have made or could
have been compelled to make a discretionary distribution of principal at the time of the exercise.
(Act 2018-519, §21.)...
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19-3D-23
Section 19-3D-23 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. TRUST FOR CARE OF ANIMAL.
(a) In this section the following terms have the following meanings: (1) ANIMAL TRUST. A trust
or an interest in a trust created to provide for the care of one or more animals. (2) PROTECTOR.
A person appointed in an animal trust to enforce the trust on behalf of the animal or, if
no such person is appointed in the trust, a person appointed by the court for that purpose.
(b) The decanting power may be exercised over an animal trust that has a protector to the
extent the trust could be decanted under this chapter if each animal that benefits from the
trust were an individual, if the protector consents in a signed record to the exercise of
the power. (c) A protector for an animal has the rights under this chapter of a qualified
beneficiary. (d) Notwithstanding any other provision of this chapter,...
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19-3D-24
Section 19-3D-24 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. TERMS OF SECOND TRUST.
A reference in Chapter 3B (commencing with Section 19-3B-101) of this title, to a trust instrument
or terms of the trust includes a second-trust instrument and the terms of the second trust.
(Act 2018-519, §24.)...
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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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19-3D-26
Section 19-3D-26 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. LATER-DISCOVERED PROPERTY.
(a) Except as otherwise provided in subsection (c), if exercise of the decanting power was
intended to distribute all the principal of the first trust to one or more second trusts,
later-discovered property belonging to the first trust and property paid to or acquired by
the first trust after the exercise of the power is part of the trust estate of the second
trust or trusts. (b) Except as otherwise provided in subsection (c), if exercise of the decanting
power was intended to distribute less than all the principal of the first trust to one or
more second trusts, later-discovered property belonging to the first trust or property paid
to or acquired by the first trust after exercise of the power remains part of the trust estate
of the first trust. (c) An authorized fiduciary may provide in an...
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19-3D-27
Section 19-3D-27 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. OBLIGATIONS. A debt,
liability, or other obligation enforceable against property of a first trust is enforceable
to the same extent against the property when held by the second trust after exercise of the
decanting power. (Act 2018-519, §27.)...
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19-3D-28
Section 19-3D-28 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. UNIFORMITY OF APPLICATION
AND CONSTRUCTION. In applying and construing this uniform act, consideration must be given
to the need to promote uniformity of the law with respect to its subject matter among states
that enact it. (Act 2018-519, §28.)...
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19-3D-29
Section 19-3D-29 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. RELATION TO ELECTRONIC
SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT. This chapter modifies, limits, or supersedes
the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq.,
but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. Section 7001(c),
or authorize electronic delivery of any of the notices described in Section 103(b) of that
act, 15 U.S.C. Section 7003(b). (Act 2018-519, §29.)...
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19-3D-3
Section 19-3D-3 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. SCOPE. (a) Except as
otherwise provided in subsections (b) and (c), this chapter applies to an express trust that
is irrevocable, or revocable by the settlor only with the consent of the trustee or a person
holding an adverse interest. (b) This chapter does not apply to a trust held solely for charitable
purposes. (c) Subject to Section 19-3D-15, a trust instrument may restrict or prohibit exercise
of the decanting power. (d) This chapter does not limit the power of a trustee, powerholder,
or other person to distribute or appoint property in further trust or to modify a trust under
the trust instrument, laws of this state other than this chapter, common law, a court order,
or a nonjudicial settlement agreement. (e) This chapter does not affect the ability of a settlor
to provide in a trust instrument for the distribution...
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