58-5105. Application; principal place of administration; governing law. The uniform trust decanting act applies to a trust created before, on, or after July 1, 2023, that:

(a) Has its principal place of administration in this state, including a trust whose principal place of administration has been changed to this state; or

(b) provides by its trust instrument that it is governed by the law of this state or is governed by the law of this state for the purpose of:

(1) Administration, including administration of a trust whose governing law for purposes of administration has been changed to the law of this state;

(2) construction of terms of the trust; or

(3) determining the meaning or effect of terms of the trust.

History: L. 2023, ch. 48, § 5; July 1.