(1) Subject to Section 75-12-107, the terms of a trust may grant a power of direction to a trust director.

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Terms Used In Utah Code 75-12-106

  • Power of direction: includes a power over the investment, management, or distribution of trust property or other matters of trust administration. See Utah Code 75-12-102
  • Terms of a trust: means :
         (8)(a) subject to Subsection (8)(b), the manifestation of the settlor's intent regarding a trust's provisions as:
              (8)(a)(i) expressed in the trust instrument; or
              (8)(a)(ii) established by other evidence that would be admissible in a judicial proceeding; or
         (8)(b) the trust's provisions as established, determined, or amended by:
              (8)(b)(i) a trustee or trust director in accordance with applicable law;
              (8)(b)(ii) a court order; or
              (8)(b)(iii) a nonjudicial settlement agreement under Section 75-7-110. See Utah Code 75-12-102
  • Trust: includes :
              (60)(a)(i) a health savings account, as defined in Section 223of the Internal Revenue Code;
              (60)(a)(ii) an express trust, private or charitable, with additions thereto, wherever and however created; or
              (60)(a)(iii) a trust created or determined by judgment or decree under which the trust is to be administered in the manner of an express trust. See Utah Code 75-1-201 v2
  • Trust director: means a person that is granted a power of direction by the terms of a trust to the extent the power is exercisable while the person is not serving as a trustee, regardless of whether:
         (9)(a) the terms of the trust refer to the person as a trust director; or
         (9)(b) the person is a beneficiary or settlor of the trust. See Utah Code 75-12-102
(2) Unless the terms of a trust provide otherwise:

     (2)(a) a trust director may exercise any further power appropriate to the exercise or nonexercise of a power of direction granted to the director under Subsection (1); and
     (2)(b) trust directors with joint powers shall act by majority decision.