(1)  This chapter applies to a trust, whenever created, that has the trust’s principal place of administration in this state, subject to the following rules:

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Terms Used In Utah Code 75-12-103

  • Directed trust: means a trust for which the terms of the trust grant a power of direction. See Utah Code 75-12-102
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Utah Code 75-12-102
  • 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:
(a) the terms of the trust refer to the person as a trust director; or
(b) the person is a beneficiary or settlor of the trust. See Utah Code 75-12-102
  • Trustee: includes an original, additional, and successor trustee, and a cotrustee. See Utah Code 75-12-102
  • Trustee: A person or institution holding and administering property in trust.
    • (a)  if the trust was created before May 14, 2019, this chapter applies only to a decision or action occurring on or after May 14, 2019; and

    (b)  if the principal place of administration of the trust is changed to this state on or after May 14, 2019, this chapter applies only to a decision or action occurring on or after the date of the change.

    (2)  Without precluding other means to establish a sufficient connection with the designated jurisdiction in a directed trust, the terms of the trust that designate the principal place of administration of the trust are valid and controlling if:

    (a)  a trustee‘s principal place of business is located in, or a trustee is a resident of, the designated jurisdiction;

    (b)  a trust director‘s principal place of business is located in, or a trust director is a resident of, the designated jurisdiction; or

    (c)  all or part of the administration occurs in the designated jurisdiction.

    Enacted by Chapter 153, 2019 General Session

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