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Chapter: 31 - Uniform Trust Code


Chapter: 31 -

3b:31-1: Short Title.

3b:31-2: Scope.

3b:31-3: Definitions.

3b:31-4: Knowledge.

3b:31-5: Default and mandatory rules.

3b:31-6: Common Law of Trusts; Principles of Equity.

3b:31-7: Governing law.

3b:31-8: Principal place of administration.

3b:31-9: Methods and waiver of notice.

3b:31-10: Others treated as qualified beneficiaries.

3b:31-11: Nonjudicial settlement agreements.

3b:31-12: Rules of construction.

3b:31-13: Representation: basic effect.

3b:31-14: Representation by holder of general testamentary power of appointment.

3b:31-15: Representation by fiduciaries and parents.

3b:31-16: Representation by person having substantially identical interest.

3b:31-17: Appointment of representative.

3b:31-18: Methods of creating trust.

3b:31-19: Requirements for creation.

3b:31-20: Written trusts created in other jurisdictions.

3b:31-21: Trust purposes.

3b:31-22: Charitable purposes, enforcement.

3b:31-23: Creation of trust induced by fraud, duress, or undue influence.

3b:31-24: Trust for care of animal.

3b:31-25: Noncharitable trust without ascertainable beneficiary.

3b:31-26: Modification or termination of trust; proceedings for approval or disapproval.

3b:31-27: Modification or termination of noncharitable irrevocable trust by consent.

3b:31-28: Modification or termination because of unanticipated circumstances or inability to administer trust effectively.

3b:31-29: Modification or termination of charitable trust (Cy Pres).

3b:31-30: Modification or termination of uneconomic trust.

3b:31-31: Reformation to correct mistakes.

3b:31-32: Construction to conform trust terms to probably intent of settlor.

3b:31-33: Modification to achieve settlor's tax objectives.

3b:31-34: Combination and division of trusts.

3b:31-35: Rights of beneficiary's creditor or assignee.

3b:31-36: Spendthrift provision.

3b:31-37: Special needs trusts.

3b:31-38: Discretionary trusts; effect of standard.

3b:31-39: Creditor's claim against settlor.

3b:31-40: Overdue distribution.

3b:31-41: Personal obligations of trustee.

3b:31-42: Capacity of settlor of revocable trust.

3b:31-43: Revocation or amendment of revocable trust.

3b:31-44: Settlor's powers.

3b:31-45: Limitation on action contesting validity of revocable trust; distribution of trust property.

3b:31-46: Accepting or declining trusteeship.

3b:31-47: Trustee's bond.

3b:31-48: Co-trustees.

3b:31-49: Vacancy in trusteeship; appointment of successor.

3b:31-50: Resignation of trustee.

3b:31-51: Removal of trustee.

3b:31-52: Delivery of property by former trustee.

3b:31-53: Reimbursement of expenses.

3b:31-54: Duty to administer trust.

3b:31-55: Duty of loyalty.

3b:31-56: Duty of impartiality.

3b:31-57: Duty of prudent administration.

3b:31-58: Costs of administration.

3b:31-59: Duty to use special skills.

3b:31-60: Delegation by trustee.

3b:31-61: Powers to direct.

3b:31-62: Powers to direct investment functions.

3b:31-63: Control and protection of trust property.

3b:31-64: Recordkeeping and identification of trust property.

3b:31-65: Duty to enforce and defend claims.

3b:31-66: Duty to collect trust property and redress breaches of trust.

3b:31-67: Duty to disclose and discretion to periodically report.

3b:31-68: Discretionary powers.

3b:31-69: General powers of trustee.

3b:31-70: Distribution upon termination.

3b:31-71: Remedies for breach of trust.

3b:31-72: Damages for breach of trust.

3b:31-73: Damages in absence of breach.

3b:31-74: Limitation of action against trustee.

3b:31-75: Reliance on trust instrument.

3b:31-76: Event affecting administration or distribution.

3b:31-77: Exculpation of trustee.

3b:31-78: Beneficiary's consent, release, or ratification.

3b:31-79: Limitation on personal liability of trustee.

3b:31-80: Interest as general partner.

3b:31-81: Certification of trust.

3b:31-82: Electronic records and signatures.

3b:31-83: Severability clause.

3b:31-84: Application to existing relationships.