South Carolina Statutes
§ 62-7-111 — Nonjudicial settlement agreements.
(a)For purposes of this section, "interested persons" means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.
(b)Interested persons may enter into a binding nonjudicial settlement agreement with respect to only the following trust matters:
(1)the approval of a trustee's report or accounting;
(2)direction to a trustee to perform or refrain from performing a particular administrative act or the grant to a trustee of any necessary or desirable administrative power;
(3)the resignation or appointment of a trustee and the determination of a trustee's compensation;
(4)transfer of a trust's principal place of administration; and (5) liability of a trustee for an action relating to the trust.
(c)Any interested pe
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South Carolina § 62-7-111 (Nonjudicial settlement agreements.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2005 Act No. 66, SECTION 1; 2013 Act No. 100, SECTION 2, eff January 1, 2014.
Nearby Sections
15
§ 62-1-100
Effective date.§ 62-1-101
Short title.§ 62-1-102
Purposes; rules of construction.§ 62-1-104
Severability.§ 62-1-105
Construction against implied repeal.§ 62-1-106
Effect of fraud and evasion.§ 62-1-107
Evidence as to death or status.§ 62-1-108
Acts by holder of general power.§ 62-1-111
Authority to award costs and expenses.§ 62-1-112
Inherent power of court.§ 62-1-201
General definitions.§ 62-1-301
Territorial application.