Montana § 72-39-214 Removal Or Replacement Of Authorized Fiduciary

Montana Statutes

§ 72-39-214 — Removal Or Replacement Of Authorized Fiduciary

Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 39 UNIFORM TRUST DECANTING ACT·Part 2 Decanting

72-39-214 . Removal or replacement of authorized fiduciary. An authorized fiduciary may not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless:

(1)the person holding the power consents to the modification in a signed record and the modification applies only to the person;

(2)the person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or

(3)the court approves the modification and the modification grants a substantially similar power to another person.

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72-39-214 . Removal or replacement of authorized fiduciary. An authorized fiduciary may not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless:
(1) the person holding the power consents to the modification in a signed record and the modification applies only to the person;
(2) the person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or
(3) the court approves the modification and the modification grants a substantially similar power to another person.

Montana § 72-39-214 (Removal Or Replacement Of Authorized Fiduciary) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.