Current with legislation from 2024 Fiscal and Special Sessions.
Section 28-73-105 - Default and mandatory rules(a) 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.(b) The terms of a trust prevail over any provision of this chapter except: (1) the requirements for creating a trust;(2) subject to §§ 28-76-109, 28-76-111, and 28-76-112 of the Uniform Directed Trust Act, § 28-76-101 et seq., the duty of a trustee to act in good faith and in accordance with the purposes of the trust;(3) 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;(4) the power of a court to modify or terminate a trust under §§ 28-73-410 - 28-73-416;(5) the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in § 28-73-501 et seq.;(6) the power of a court under § 28-73-702 to require, dispense with, or modify or terminate a bond;(7) the power of a court under § 28-73-708(b) to adjust a trustee's compensation specified in the terms of the trust which is unreasonably low or high;(8) the rights under §§ 28-73-1010 - 28-73-1013 of a person other than a trustee or beneficiary;(9) periods of limitation for commencing a judicial proceeding;(10) the power of a court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and(11) the subject-matter jurisdiction of a court for commencing a proceeding as provided in § 28-73-203.Amended by Act 2019, No. 1021,§ 2, eff. 1/1/2020.Acts 2005, No. 1031, § 1.