Uniform Directed Trust Act
Montana · Estates, Trusts, and Fiduciary Relationships · §§ 72-40-101 to 72-40-122 · 19 sections
Overview
The Uniform Directed Trust Act governs trusts in which a person other than the trustee — a trust director — holds power over some aspect of the trust, and the trustee is expected to act at that person's direction. It defines the scope of and limits on a trust director's powers and allocates fiduciary duty and liability between the director and the directed trustee, including their obligations to share information with one another and the absence of any general duty to monitor, inform, or advise. It also covers how those rules apply where cotrustees are involved, the time limits and defenses available in actions brought against a trust director, personal jurisdiction over directors, and the mechanics of the office of trust director itself.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
Sections covered
- Mont. Code Ann. § 72-40-101Short title
- Mont. Code Ann. § 72-40-102Definitions
- Mont. Code Ann. § 72-40-103Application -- principal place of administration
- Mont. Code Ann. § 72-40-104Common law and principles of equity
- Mont. Code Ann. § 72-40-105Exclusions
- Mont. Code Ann. § 72-40-106through 72-40-109 reserved
- Mont. Code Ann. § 72-40-110Powers of trust director
- Mont. Code Ann. § 72-40-111Limitations on trust director
- Mont. Code Ann. § 72-40-112Duty and liability of trust director
- Mont. Code Ann. § 72-40-113Duty and liability of directed trustee
- Mont. Code Ann. § 72-40-114Duty to provide information to trust director or trustee
- Mont. Code Ann. § 72-40-115No duty to monitor, inform, or advise
- Mont. Code Ann. § 72-40-116Application to cotrustee
- Mont. Code Ann. § 72-40-117Limitation of action against trust director
- Mont. Code Ann. § 72-40-118Defenses in action against trust director
- Mont. Code Ann. § 72-40-119Jurisdiction over trust director
- Mont. Code Ann. § 72-40-120Office of trust director
- Mont. Code Ann. § 72-40-121Uniformity of application and construction
- Mont. Code Ann. § 72-40-122Relation to electronic signatures in global and national commerce act
Enacted in other states
Arkansas, California, Connecticut, Florida, Indiana, New Mexico, Vermont, West Virginia
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