19-3D-10
Section 19-3D-10 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. FORMALITIES. An exercise
of the decanting power must be made in a record signed by an authorized fiduciary. The signed
record must, directly or by reference to the notice required by Section 19-3D-7, identify
the first trust and the second trust or trusts and state the property of the first trust being
distributed to each second trust and the property, if any, that remains in the first trust.
(Act 2018-519, §10.)...
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19-3D-12
Section 19-3D-12 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. DECANTING POWER UNDER
LIMITED DISTRIBUTIVE DISCRETION. (a) In this section, "limited distributive discretion"
means a discretionary power of distribution that is limited to an ascertainable standard or
a reasonably definite standard. (b) An authorized fiduciary that has limited distributive
discretion over the principal of the first trust for the benefit of one or more current beneficiaries
may exercise the decanting power over the principal of the first trust. If an authorized fiduciary
has limited distributive discretion over part but not all of the principal of a first trust,
the fiduciary may exercise the decanting power over that part of the principal over which
the authorized fiduciary has limited distributive discretion. (c) Under this section and subject
to Section 19-3D-14, a second trust may be created or...
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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-22
Section 19-3D-22 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. SAVING PROVISION. (a)
If exercise of the decanting power would be effective under this chapter except that the second-trust
instrument in part does not comply with this chapter, the exercise of the power is effective
and the following rules apply with respect to the principal of the second trust attributable
to the exercise of the power: (1) A provision in the second-trust instrument which is not
permitted under this chapter is void to the extent necessary to comply with this chapter.
(2) A provision required by this chapter to be in the second-trust instrument which is not
contained in the instrument is deemed to be included in the instrument to the extent necessary
to comply with this chapter. (b) If a trustee or other fiduciary of a second trust determines
that subsection (a) applies to a prior exercise of the...
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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-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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22-27-61
Section 22-27-61 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2019 REGULAR SESSION,
EFFECTIVE SEPTEMBER 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) If a claim under
an insurance policy for damage to residential real property is paid to the insured and a lender,
and the lender holds all or part of the proceeds from the insurance claim payment pending
completion of all or part of the repairs to the property, the lender shall notify the insured
of each requirement with which the insured must comply for the lender to release the insurance
proceeds. (b) The notice required under this section must be provided no later than 14 days
after the date the lender receives payment of the insurance proceeds. (Act 2019-460, §2.)...

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22-27-62
Section 22-27-62 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2019 REGULAR SESSION,
EFFECTIVE SEPTEMBER 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Not later than 10
days after the date a lender receives from the insured a request for release of all or part
of the insurance proceeds held by the lender, the lender shall do either of the following:
(1) If the lender has received sufficient evidence of the insured's compliance with the requirements
specified by the lender under Section 27-22-61 for release of the proceeds, the lender shall
release to the insured, as requested, all or part of the proceeds. (2) Provide notice to the
insured that explains specifically both of the following: a. The reason for the lender's refusal
to release the proceeds to the insured. b. Each requirement with which the insured must comply
for the lender to release the proceeds. (Act 2019-460, §3.)...
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