§ 15-7-104 — EFFECT OF FAILURE TO REGISTER

A trustee who fails to register a trust in a proper place as required by this Part, for purposes of any proceedings initiated by a beneficiary of the trust prior to registration, is subject to the personal jurisdiction of any court in which the trust could have been registered. In addition, any trustee who, within thirty (30) days after receipt of a written demand by a settlor or beneficiary of the trust, fails to register a trust as required by this chapter is subject to removal and denial of compensation or to surcharge as the court may direct unless directed not to register by all beneficiaries or as provided in section 15-1-108 of this code a person with a general power of appointment representing all the beneficiaries and acting for them. A provision in the terms of the trust purporting to excuse the trustee from the duty to register, or directing that the trust or trustee shall not be subject to the jurisdiction of the court, is ineffective.

Legislative History

[I.C., sec. 15-7-104, as added by 1971, ch. 111, sec. 1, p. 233.]