72-39-103. Scope.
162 words·~1 min read·
/mt/title-72/chapter-39/part-1/72-39-103A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
72-39-103 . Scope.
(1)Except as provided in subsections
(2)and (3), 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.
(2)This chapter does not apply to a trust held solely for charitable purposes.
(3)Subject to 72-39-211 , a trust instrument may restrict or prohibit exercise of the decanting power.
(4)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, law of this state other than this chapter, common law, a court order, or a nonjudicial settlement agreement.
(5)This chapter does not affect the ability of a settlor to provide in a trust instrument for the distribution of the trust property or appointment in further trust of the trust property or for modification of the trust instrument.