Current with legislation from 2024 Fiscal and Special Sessions.
Section 28-77-304 - Notice(a) A notice required by § 28-77-303(b)(2) must be sent in a manner authorized under § 28-73-109 to: (1) the qualified beneficiaries determined under § 28-73-103, other than the Attorney General; and(2) each person acting as trust director of the trust under the Uniform Directed Trust Act, § 28-76-101 et seq.(b) The representation provisions of §§ 28-73-301 - 28-73-305 apply to notice under this section.(c) A person may consent in a record at any time to action proposed under § 28-77-303(b)(2). A notice required by § 28-77-303(b)(2) need not be sent to a person that consents under this subsection.(d) A notice required by § 28-77-303(b)(2) must include:(1) the action proposed under § 28-77-303(b)(2);(2) for a conversion of an income trust to a unitrust, a copy of the unitrust policy adopted under § 28-77-303(a)(1);(3) 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 § 28-77-303(a)(2);(4) 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;(5) the date by which an objection under paragraph (4) must be received by the fiduciary, which must be at least 30 days after the date the notice is sent;(6) the date on which the action is proposed to be taken and the date on which the action is proposed to take effect;(7) the name and contact information of the fiduciary; and(8) the name and contact information of a person that may be contacted for additional information.Added by Act 2021, No. 1088,§ 2, eff. 1/1/2022.