Current through the 2023 Regular Session
Section 72-39-205 - Court involvement(1) On application of an authorized fiduciary, a person entitled to notice under 72-39-203(3), a beneficiary, or with respect to a charitable interest the attorney general or other person that has standing to enforce the charitable interest, the court may: (a) provide instructions to the authorized fiduciary regarding whether a proposed exercise of the decanting power is permitted under this chapter and consistent with the fiduciary duties of the authorized fiduciary;(b) appoint a special fiduciary and authorize the special fiduciary to determine whether the decanting power should be exercised under this chapter and to exercise the decanting power;(c) approve an exercise of the decanting power;(d) determine that a proposed or attempted exercise of the decanting power is ineffective because: (i) after applying 72-39-218, the proposed or attempted exercise does not or did not comply with this chapter; or(ii) the proposed or attempted exercise would be or was an abuse of the fiduciary's discretion or a breach of fiduciary duty;(e) determine the extent to which 72-39-218 applies to a prior exercise of the decanting power;(f) provide instructions to the trustee regarding the application of 72-39-218 to a prior exercise of the decanting power; or(g) order other relief to carry out the purposes of this chapter.(2) On application of an authorized fiduciary, the court may approve: (a) an increase in the fiduciary's compensation under 72-39-212; or(b) a modification under 72-39-214 of a provision granting a person the right to remove or replace the fiduciary.Added by Laws 2021, Ch. 177,Sec. 9, eff. 10/1/2021.