Section 72-40-103 - Application - principal place of administration(1) This part applies to a trust, whenever created, that has its principal place of administration in this state, subject to the following rules: (a) if the trust was created before October 1, 2021, this part applies only to a decision or action occurring on or after October 1, 2021; and(b) if the principal place of administration of the trust is changed to this state on or after October 1, 2021, this part applies only to a decision or action occurring on or after the date of the change.(2) Without precluding other means to establish a sufficient connection with the designated jurisdiction in a directed trust, terms of the trust that designate the principal place of administration of the trust are valid and controlling if: (a) a principal place of business is located in or a trustee is a resident of the designated jurisdiction;(b) a trust director's principal place of business is located in or a trust director is a resident of the designated jurisdiction; or(c) all or part of the administration occurs in the designated jurisdiction.Added by Laws 2021, Ch. 325,Sec. 3, eff. 10/1/2021.