§ 15-16-923 — Trust for care of animal - definitions

(1) As used in this section,
unless the context otherwise requires:

(a) Animal trust means a trust or an interest in a trust created to provide
for the care of one or more animals.

(b) Protector means a person listed under section 15-11-901 (3)(d) with
authority to enforce the trust on behalf of the animal.

(2) The decanting power may be exercised over an animal trust that has a
protector to the extent the trust could be decanted under this part 9 if each animal
that benefits from the trust were an individual, if the protector consents in a signed
record to the exercise of the power.

(3) A protector for an animal has the rights under this part 9 of a qualified
beneficiary.

(4) Notwithstanding any other provision of this part 9, if a first trust is an
animal trust, in an exercise of the decanting power, the second trust must provide
that trust property may be applied only to its intended purpose for the period the
first trust benefitted the animal.

Legislative History

Source: L. 2016: Entire part added, (SB 16-085), ch. 228, p. 888, � 1, effective August 10.