(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 :
(a) subject to Subsection (8)(b), the manifestation of the settlor's intent regarding a trust's provisions as:
(i) expressed in the trust instrument; or
(ii) established by other evidence that would be admissible in a judicial proceeding; or
(b) the trust's provisions as established, determined, or amended by:
(i) a trustee or trust director in accordance with applicable law;
(ii) a court order; or
(iii) a nonjudicial settlement agreement under Section 75-7-110. 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
    (2)  Unless the terms of a trust provide otherwise:

    (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

    (b)  trust directors with joint powers shall act by majority decision.

    Enacted by Chapter 153, 2019 General Session

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