Utah Code 75-12-116. Office of trust director
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Unless the terms of a trust provide otherwise, the rules applicable to a trustee apply to a trust director regarding the following matters:
(1) acceptance under Section 75-7-701;
Terms Used In Utah Code 75-12-116
- 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 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) giving of bond to secure performance under Section 75-7-702;(3) reasonable compensation under Section 75-7-708;(4) resignation under Section 75-7-705;(5) removal under Section 75-7-706; and(6) vacancy and appointment of successor under Section 75-7-704. - 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: