Utah § 75A-5-304 Notice.

Utah Statutes

§ 75A-5-304 — Notice.

Utah·Title 75A Fiduciaries·Ch. 75A-5 Uniform Fiduciary Income and Principal Act·Part 75A-5-3 Unitrust

(1)A fiduciary shall send a notice required by Subsection 75A-5-303(2)(b) in a manner authorized under Section 75B-2-109 to:

(1)(a) the qualified beneficiaries determined under Subsection 75B-2-103(8);

(1)(b) each person acting, in accordance with Title 75, Chapter 12, Uniform Directed Trust Act, as trust director of the trust; and

(1)(c) each person that is granted a power by the terms of the trust to appoint or remove a trustee or person described in Subsection (1)(b), to the extent the power is exercisable when the person that exercises the power is not then serving as trustee or is a person described in Subsection (1)(b).

(2)The representation provisions of Title 75B, Chapter 2, Part 3, Representation, apply to notice under this section.

(3)(3)(a) A person may consent in a record at

Free access — add to your briefcase to read the full text and ask questions with AI

(1) A fiduciary shall send a notice required by Subsection 75A-5-303(2)(b) in a manner authorized under Section 75B-2-109 to:
(1)(a) the qualified beneficiaries determined under Subsection 75B-2-103(8);
(1)(b) each person acting, in accordance with Title 75, Chapter 12, Uniform Directed Trust Act, as trust director of the trust; and
(1)(c) each person that is granted a power by the terms of the trust to appoint or remove a trustee or person described in Subsection (1)(b), to the extent the power is exercisable when the person that exercises the power is not then serving as trustee or is a person described in Subsection (1)(b).
(2) The representation provisions of Title 75B, Chapter 2, Part 3, Representation, apply to notice under this section.
(3) (3)(a) A person may consent in a record at any time to action proposed under Subsection 75A-5-303(2)(b).
(3)(b) If a person required to receive a notice under Subsection (1) consents under Subsection (3)(a) to not receive the notice, the fiduciary is not required to send the person the notice.
(4) A notice required by Subsection 75A-5-303(2)(b) shall include:
(4)(a) the action proposed under Subsection 75A-5-303(2)(b);
(4)(b) for a conversion of an income trust to a unitrust, a copy of the unitrust policy adopted under Subsection 75A-5-303(1)(a);
(4)(c) for a change in the percentage or method used to calculate the unitrust amount, a copy of the unitrust policy or amendment or replacement of the unitrust policy adopted under Subsection 75A-5-303(1)(b);
(4)(d) a statement that the person to which the notice is sent may object to the proposed action by stating in a record the basis for the objection and sending or delivering the record to the fiduciary;
(4)(e) the date by which the fiduciary shall receive an objection under Subsection (4)(d), which shall be at least 30 days after the date the notice is sent;
(4)(f) the date on which the action is proposed to be taken and the date on which the action is proposed to take effect;
(4)(g) the name and contact information of the fiduciary; and
(4)(h) the name and contact information of a person that may be contacted for additional information.

Utah § 75A-5-304 (Notice.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.