Utah Code 59-18-111. Duties of trustee of trust subject to supervision by specified charitable organization
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The trustee of a trust subject to the supervision by a specified public charitable organization or organizations, as provided in Subsection
(1) a trust copy of the governing instrument together with a written report, under oath, setting forth complete information as to the nature of the assets and liabilities with the delivery of the release pursuant to Subsection 59-18-109(4) or the filing of the election under Section 59-18-110 ;
Terms Used In Utah Code 59-18-111
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Charitable organization: means an organization described in Section 501(c)(3) and exempt from tax under Section 501(a). See Utah Code 59-18-102
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Trust: means an express trust created by a trust instrument, including a will. See Utah Code 59-18-102
(2) an annual report, within 4-1/2 months following the close of each year, setting forth a complete statement of receipts, disbursements, assets (together with cost and market value of each asset), and liabilities; and
(3) such other information as the public charitable organization or organizations deem necessary to compel proper administration of the trust.