72-38-105. Default and mandatory rules.
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72-38-105 . Default and mandatory rules.
(1)Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.
(2)The terms of a trust prevail over any provision of this chapter except:
(a)the requirements for creating a trust;
(b)subject to 72-40-113 , 72-40-115 , and 72-40-116 , the duty of a trustee to act in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries;
(c)the requirement that a trust and its terms be for the benefit of its beneficiaries and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve;
(d)the power of the court to modify or terminate a trust under 72-38-410 through 72-38-416 ;
(e)the effect of a spendthrift provision;
(f)the power of the court under 72-38-702 to require, dispense with, or modify or terminate a bond;
(g)the power of the court under 72-38-708
(2)to adjust a trustee's compensation specified in the terms of the trust that is unreasonably low or high;
(h)the effect of an exculpatory term under 72-38-1008 ;
(i)the rights under 72-38-1010 through 72-38-1013 of a person other than a trustee or beneficiary;
(j)the periods of limitation for commencing a judicial proceeding;
(k)the power of the court to take the action and exercise the jurisdiction that may be necessary in the interests of justice; and
(l)the subject-matter jurisdiction of the court and venue for commencing a proceeding as provided in 72-38-201 and 72-38-205 .