Section 55-1-22.4 - Application of sections 55-1-21 to 55-1-21.9 to hybrid purpose trust-ExceptionsThe provisions of §§ 55-1-21 to 55-1-21.9, inclusive, apply to a hybrid purpose trust except that:
(1) Under § 55-1-21.1, except as otherwise provided in the governing instrument, a trust as described in subdivision 55-1-21(1) terminates when no living animal is covered by the trust unless the trust may continue for the benefit of the beneficiaries; and(2) Under § 55-1-21.2, a court has no power to reduce the amount of trust property intended for or allocated to any beneficiaries or any charitable purposes.Added by S.L. 2018, ch. 275,s. 18, eff. 7/1/2018.