Current through 2024 Act No. 225.
Section 62-7-105 - Default and mandatory rules(a) Except as otherwise provided in the terms of the trust, this article governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.(b) The terms of a trust prevail over any provision of this article except: (1) the requirements for creating a trust;(2) the duty of a trustee to act in good faith and in accordance with the purposes of the trust;(3) the requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful and possible to achieve;(4) the power of the court to modify or terminate a trust under Sections 62-7-410 through 62-7-416;(5) the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in Part 5;(6) the limitations on the ability of a settlor's agent under a power of attorney to revoke, amend, or make distributions from a revocable trust pursuant to Section 62-7-602A;(7) the power of the court under Section 62-7-708(b) to adjust a trustee's compensation specified in the terms of the trust which is unreasonably low or high;(8) the effect of an exculpatory term under Section 62-7-1008;(9) the rights under Sections 62-7-1010 through 62-7-1013 of a person other than a trustee or beneficiary;(10) periods of limitation for commencing a judicial proceeding;(11) the power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and(12) the subject matter jurisdiction of the court and venue for commencing a proceeding as provided in Sections 62-7-201 and 62-7-204.Amended by 2013 S.C. Acts, Act No. 100 (SB 143), s 2, eff. 1/1/2014.Amended by 2010 S.C. Acts, Act No. 244 (HB 3803), s 45, eff. 6/7/2010.2005 Act No. 66, Section 1.