As used in this chapter: (1) "Action," with respect to an act of a trustee, includes a failure to act. (2) "Charitable trust" means a trust, or portion of a trust, created for a charitable purpose described in Subsection 75B-2-405(1). (3) "Environmental law" means a federal, state, or local law, rule, regulation, or ordinance relating to protection of the environment. (4) "Interests of the beneficiaries" means the beneficial interests provided in the terms of the trust. (5) "Jurisdiction," with respect to a geographic area, includes a state or country. (6) "Power of withdrawal" means a presently exercisable general power of appointment other than a power exercisable only upon consent of the trustee or a person holding an adverse interest. (7) "Proceeding" means the same as that term is defined in Section 75-1-201. (8) "Qualified beneficiary" means a beneficiary who, on the date the beneficiary's qualification is determined: (a) is a current distributee or permissible distributee of trust income or principal; or (b) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date. (9) "Resident estate" means: (a) an estate of a decedent who at death was domiciled in this state; (b) a trust, or a portion of a trust, consisting of property transferred by will of a decedent who at the time of the decedent's death was domiciled in this state; or (c) a trust administered in this state. (10) "Resident trust" means a resident estate. (11) "Revocable," as applied to a trust, means revocable by the settlor without the consent of the trustee or a person holding an adverse interest. (12) "Spendthrift provision" means a term of a trust which restrains both voluntary and involuntary transfer or encumbrance of a beneficiary's interest. (13) "Terms of a trust" means: (a) except as otherwise provided in Subsection (13)(b), the manifestation of the settlor's intent regarding a trust's provisions as: (i) expressed in the trust instrument; or (ii) established by other evidence that would be admissible in a judicial proceeding; or (b) the trust's provisions as established, determined, or amended by: (i) a trustee or trust director in accordance with the applicable law; (ii) court order; or (iii) a nonjudicial settlement agreement under Section 75B-2-110. Renumbered and Amended by Chapter 310, 2025 General Session
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