Montana Statutes
§ 72-40-102 — Definitions
Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 40 UNIFORM DIRECTED TRUST ACT·Part 1 General Provisions
72-40-102 . Definitions. In this part, the following definitions apply:
(1)"Breach of trust" includes a violation by a trust director or trustee of a duty imposed on that director or trustee by the terms of the trust, this part, or law of this state other than this part pertaining to trusts.
(2)"Directed trust" means a trust for which the terms of the trust grant a power of direction.
(3)"Directed trustee" means a trustee that is subject to a trust director's power of direction.
(4)"Person" has the meaning in 72-38-103 .
(5)"Power of direction" means a power over a trust granted to a person by the terms of the trust to the extent the power is exercisable while the person is not serving as a trustee. The term includes a power over the investment, management, or distribution of trust pr
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Legislative History
En. Sec. 2, Ch. 325, L. 2021.
Nearby Sections
15
§ 72-40-101
Short Title§ 72-40-102
Definitions§ 72-40-104
Common Law And Principles Of Equity§ 72-40-105
Exclusions§ 72-40-106
Through 72-40-109 Reserved§ 72-40-110
Powers Of Trust Director§ 72-40-111
Limitations On Trust Director§ 72-40-112
Duty And Liability Of Trust Director§ 72-40-113
Duty And Liability Of Directed Trustee§ 72-40-115
No Duty To Monitor, Inform, Or Advise§ 72-40-116
Application To Cotrustee§ 72-40-117
Limitation Of Action Against Trust Director§ 72-40-118
Defenses In Action Against Trust Director