Montana Code 72-39-214. Removal or replacement of authorized fiduciary
72-39-214. Removal or replacement of authorized fiduciary. An authorized fiduciary may not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless:
Terms Used In Montana Code 72-39-214
- Fiduciary: A trustee, executor, or administrator.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
(1)the person holding the power consents to the modification in a signed record and the modification applies only to the person;
(2)the person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or
(3)the court approves the modification and the modification grants a substantially similar power to another person.