Current through 2024 Second Special Session
Section 44D-8B-9 - Court involvement(a) On application of an authorized fiduciary, a person entitled to notice under §44D-8B-7(c) of this code, a beneficiary, or with respect to a charitable interest any other person that has standing to enforce the charitable interest, the court may:(1) Provide instructions to the authorized fiduciary regarding whether a proposed exercise of the decanting power is permitted under this article and consistent with the fiduciary duties of the authorized fiduciary;(2) Appoint a special fiduciary and authorize the special fiduciary to determine whether the decanting power should be exercised under this article and to exercise the decanting power;(3) Approve an exercise of the decanting power;(4) Determine that a proposed or attempted exercise of the decanting power is ineffective because:(A) After applying §44D-8B-22 of this code, the proposed or attempted exercise does not, or did not, comply with this article; or(B) The proposed or attempted exercise would be or was an abuse of the fiduciary's discretion or a breach of fiduciary duty;(5) Determine the extent to which §44D-8B-22 of this code applies to a prior exercise of the decanting power;(6) Provide instructions to the trustee regarding the application of §44D-8B-22 of this code to a prior exercise of the decanting power; or(7) Order other relief to carry out the purposes of this article.(b) On application of an authorized fiduciary, the court may approve: (1) An increase in the fiduciary's compensation under §44D-8B-16 of this code; or(2) A modification under §44D-8B-18 of this code of a provision granting a person the right to remove or replace the fiduciary.Added by 2020 Acts, ch. 200 (SB 668), eff. 7/1/2020.