72-38-105 . Default and mandatory rules. (1) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary. (2) The terms of a trust prevail over any provision of this chapter except: (a) the requirements for creating a trust; (b) subject to 72-40-113 , 72-40-115 , and 72-40-116 , the duty of a trustee to act in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries; (c) the requirement that a trust and its terms be for the benefit of its beneficiaries and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve; (d) the power of the court to modify or terminate a trust under 72-38-410 through 72-38-416 ; (e) the effect of a spendthrift provision; (f) the power of the court under 72-38-702 to require, dispense with, or modify or terminate a bond; (g) the power of the court under 72-38-708 (2) to adjust a trustee's compensation specified in the terms of the trust that is unreasonably low or high; (h) the effect of an exculpatory term under 72-38-1008 ; (i) the rights under 72-38-1010 through 72-38-1013 of a person other than a trustee or beneficiary; (j) the periods of limitation for commencing a judicial proceeding; (k) the power of the court to take the action and exercise the jurisdiction that may be necessary in the interests of justice; and (l) the subject-matter jurisdiction of the court and venue for commencing a proceeding as provided in 72-38-201 and 72-38-205 .
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