Utah Code 75-12-106. Powers of trust director
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(1) Subject to Section 75-12-107, the terms of a trust may grant a power of direction to a trust director.
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. - Trust: includes :
