§ 72-40-101 Short title
§ 72-40-102 Definitions
§ 72-40-103 Application — principal place of administration
§ 72-40-104 Common law and principles of equity
§ 72-40-105 Exclusions
§ 72-40-110 Powers of trust director
§ 72-40-111 Limitations on trust director
§ 72-40-112 Duty and liability of trust director
§ 72-40-113 Duty and liability of directed trustee
§ 72-40-114 Duty to provide information to trust director or trustee
§ 72-40-115 No duty to monitor, inform, or advise
§ 72-40-116 Application to cotrustee
§ 72-40-117 Limitation of action against trust director
§ 72-40-118 Defenses in action against trust director
§ 72-40-119 Jurisdiction over trust director
§ 72-40-120 Office of trust director
§ 72-40-121 Uniformity of application and construction
§ 72-40-122 Relation to electronic signatures in global and national commerce act
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Terms Used In Montana Code > Title 72 > Chapter 40 > Part 1 - General Provisions

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiduciary: A trustee, executor, or administrator.
  • 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.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
  • Property: means real and personal property. See Montana Code 1-1-205
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the territories. See Montana Code 1-1-201