75A-5-304. Notice.

391 words·~2 min read·/ut/title-75a/chapter-5/75a-5-304

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 5/7/2025

75A-5-304. Notice.

(1)A fiduciary shall send a notice required by Subsection 75A-5-303 (2)(b) in a manner authorized under Section 75B-2-109 to:

(a)the qualified beneficiaries determined under Subsection 75B-2-103(8) ;

(b)each person acting, in accordance with Title 75, Chapter 12, Uniform Directed Trust Act , as trust director of the trust; and

(c)each person that is granted a power by the terms of the trust to appoint or remove a trustee or person described in Subsection (1)(b) , to the extent the power is exercisable when the person that exercises the power is not then serving as trustee or is a person described in Subsection (1)(b) .

(2)The representation provisions of Title 75B, Chapter 2, Part 3, Representation, apply to notice under this section.

(a)A person may consent in a record at any time to action proposed under Subsection 75A-5-303 (2)(b) .

(b)If a person required to receive a notice under Subsection

(1)consents under Subsection (3)(a) to not receive the notice, the fiduciary is not required to send the person the notice.

(4)A notice required by Subsection 75A-5-303 (2)(b) shall include:

(a)the action proposed under Subsection 75A-5-303 (2)(b) ;

(b)for a conversion of an income trust to a unitrust, a copy of the unitrust policy adopted under Subsection 75A-5-303 (1)(a) ;

(c)for a change in the percentage or method used to calculate the unitrust amount, a copy of the unitrust policy or amendment or replacement of the unitrust policy adopted under Subsection 75A-5-303 (1)(b) ;

(d)a statement that the person to which the notice is sent may object to the proposed action by stating in a record the basis for the objection and sending or delivering the record to the fiduciary;

(e)the date by which the fiduciary shall receive an objection under Subsection (4)(d) , which shall be at least 30 days after the date the notice is sent;

(f)the date on which the action is proposed to be taken and the date on which the action is proposed to take effect;

(g)the name and contact information of the fiduciary; and

(h)the name and contact information of a person that may be contacted for additional information.

Amended by Chapter 310 , 2025 General Session

Amended by Chapter 338 , 2025 General Session