Current through 2023-2024 Legislative Session Chapters 1-374, 376-386, 393, 394, 397, 398, 406-412, 414, 415, 421, 424, 427, 429, 430, 432-456, 460, 461, 471, 473, 475, 478, 480, 483, 484, 488, 490
Section 53-12-22 - Trust purposes and conditions in terrorem(a) A trust may be created for any lawful purpose.(b) A condition in terrorem shall be void unless there is a direction in the trust instrument as to the disposition of the property if the condition in terrorem is violated, in which event the direction in the trust instrument shall be carried out, except as otherwise provided in subsection (c) of this Code section.(c) A condition in terrorem shall not be enforceable against an individual for: (1) Bringing an action for interpretation or enforcement of a trust instrument;(2) Bringing an action for an accounting, for removal, or for other relief against a trustee; or(3) Entering into a settlement agreement.Amended by 2020 Ga. Laws 508,§ 1-74, eff. 1/1/2021.Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.