55-1-22.4. Application of §§ 55-1-21 to 55-1-21.9 to hybrid purpose trust--Exceptions.
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/sd/title-55/chapter-55-1/55-1-22-4·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The provisions of §§ 55-1-21 to 55-1-21.9 , inclusive, apply to a hybrid purpose trust except that:
(1)Under § 55-1-21.1 , except as otherwise provided in the governing instrument, a trust as described in subdivision 55-1-21(1) terminates when no living animal is covered by the trust unless the trust may continue for the benefit of the beneficiaries; and
(2)Under § 55-1-21.2 , a court has no power to reduce the amount of trust property intended for or allocated to any beneficiaries or any charitable purposes.