Title 75A, Title 75A: Fiduciaries

75A-6-117. Uniformity of application and construction. In applying and construing this uniform act, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact this uniform law.

75A-6-118. Relation to Electronic Signatures in Global and National Commerce Act. This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Sec. 7001 et seq., but does not modify, limit, or supersede Section 101(c) of th…

75A-7-102. Definitions for chapter. As used in this chapter: (1) "Assignment" includes any written stock power, bond power, bill of sale, deed, declaration of trust or other instrument of transfer. (2) "Claim of beneficial interest" includes: a claim of any interest by a decedent…

75A-7-103. Registration of security in the name of a fiduciary. A corporation or transfer agent registering a security in the name of a person who is a fiduciary or who is described as a fiduciary is not bound to inquire into the existence, extent, or correct description of the f…

75A-7-104. Assignment of security by a fiduciary. Except as otherwise provided in this chapter, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary: (1) may assume without inquiry that the assignment, even though to the fiducia…

75A-7-105. Assignment of security by a fiduciary -- Evidence of appointment or incumbency. (1) A corporation or transfer agent making a transfer pursuant to an assignment by a fiduciary who is not the registered owner shall obtain the following evidence of appointment or incumben…

75A-7-106. Adverse claims to transfer of security by a fiduciary -- Notice. (1) A person asserting a claim of beneficial interest adverse to the transfer of a security pursuant to an assignment by a fiduciary may give the corporation or transfer agent written notice of the claim.…

75A-7-107. Nonliability of corporation or transfer agent. A corporation or transfer agent incurs no liability to any person by making a transfer or otherwise acting in a manner authorized by this chapter.

75A-7-108. Nonliability of third persons. (1) A person who participates in the acquisition, disposition, assignment or transfer of a security by or to a fiduciary, including a person who guarantees the signature of the fiduciary, is not liable for participation in any breach of f…

75A-7-109. Territorial application of law to rights and duties of corporation or third persons. (1) The rights and duties of a corporation and the corporation's transfer agents in registering a security in the name of a fiduciary or in making a transfer of a security pursuant to …

75A-7-110. Tax obligations not affected . This chapter does not affect any obligation of a corporation or transfer agent with respect to estate, inheritance, succession or other taxes imposed by the laws of this state.

75A-7-111. Construction. This uniform act shall be so construed as to effectuate the act's general purpose to make uniform the law of those states which enact this uniform act.

75A-8-102. Definitions for chapter. As used in this chapter: (1) "Adult" means an individual who is 21 years old or older. (2) "Beneficiary" means the same as that term is defined in Section. 75-1-201 (3) "Benefit plan" means an employer's plan for the benefit of an employee or p…

75A-8-103. Scope and jurisdiction. (1) This chapter applies to a transfer that refers to this chapter in the designation under Subsectionby which the transfer is made if at the time of the transfer, the transferor, the minor, or the custodian is a resident of this state, or the c…

75A-8-104. Nomination of custodian. (1) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occurrence of the event by namin…

75A-8-105. Transfer by gift or exercise of power of appointment. A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor under Section.

75A-8-106. Transfer authorized by will or trust. (1) A personal representative or trustee may make an irrevocable transfer under Sectionto a custodian for the benefit of a minor as authorized in the governing will or trust. 75A-8-110 (2) If the testator or settlor has nominated a…

75A-8-107. Other transfer by fiduciary. (1) Subject to Subsection (3), a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor under Section, in the absence of a will or under a will or trust …

75A-8-108. Transfer by obligor. (1) Subject to Subsections (2) and (3), a person not subject to Sectionorwho holds property of or owes a liquidated debt to a minor not having a conservator, may make an irrevocable transfer to a custodian for the benefit of the minor under Section…

75A-8-109. Receipt for custodial property. A written acknowledgment of delivery by a custodian is sufficient receipt and discharge for custodial property transferred to the custodian under this chapter.

75A-8-110. Manner of creating custodial property and effecting transfer -- Designation of initial custodian -- Control. (1) Custodial property is created and a transfer is made when: an uncertificated security or a certificated security in registered form is either: registered in…

75A-8-111. Single custodianship. (1) A transfer may be made only for one minor, and only one person may be the custodian. (2) All custodial property held under this chapter by the same custodian for the benefit of the same minor constitutes a single custodianship.

75A-8-112. Validity and effect of transfer. (1) The validity of a transfer made in a manner prescribed in this chapter is not affected by: failure of the transferor to comply with Subsectionconcerning possession and control; 75A-8-110(3) designation of an ineligible custodian, ex…

75A-8-113. Care of custodial property. (1) A custodian shall: take control of custodial property; register or record title to custodial property if appropriate; and collect, hold, manage, invest, and reinvest custodial property. (2) In dealing with custodial property, a custodian…

75A-8-114. Powers of custodian. (1) A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their own property, but a custodian may exercise those rights, powers, and authority in that ca…

75A-8-115. Use of custodial property. (1) A custodian may deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to: the duty…

75A-8-116. Custodian's expenses, compensation, and bond. (1) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties. (2) Except for one who is a transferor under Section, a custodian has a non…

75A-8-117. Exemption of third person from liability. A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of know…

75A-8-118. Liability to third persons. (1) A claim may be asserted against the custodial property by proceeding against the custodian in the custodial capacity, whether or not the custodian or the minor is personally liable, if the claim is based on: a contract entered into by a …

75A-8-119. Renunciation, resignation, death, or removal of custodian -- Designation of successor custodian. (1) A person nominated under Sectionor designated under Sectionas custodian may decline to serve by delivering a valid disclaimer to the person who made the nomination or t…

75A-8-120. Accounting by and determination of liability of custodian. (1) A minor who is 14 years old or older, the minor's guardian of the person or legal representative, an adult member of the minor's family, a transferor, or a transferor's legal representative may petition the…

75A-8-121. Termination of custodianship. The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of: (1) the minor's becoming 21 years old with respect to custodial property transferred under Sectionor; 7…

75A-8-122. Applicability. This chapter applies to a transfer within the scope of Sectionmade after its effective date if: (1) the transfer purports to have been made under the Uniform Gifts to Minors Act; or (2) the instrument by which the transfer purports to have been made uses…

75A-8-123. Effect on existing custodianships. (1) Any transfer of custodial property as now defined in this chapter made before July 1, 1990, is validated notwithstanding that there was no specific authority in the Uniform Gifts to Minors Act for the coverage of custodial propert…

75A-9-101. Definitions. As used in this chapter: (1) "Advance health care directive" means a power of attorney for health care, health care instruction, or both. "Advance health care directive" includes an advance mental health care directive. (2) "Advance mental health care" dir…

75A-9-102. Capacity. (1) An individual has capacity for the purpose of this chapter if the individual: is willing and able to communicate a decision independently or with appropriate services, technological assistance, supported decision making, or other reasonable accommodation;…

75A-9-103. Presumption of capacity -- Overcoming presumption. (1) An individual is presumed to have capacity to make or revoke a health care decision, health care instruction, and power of attorney for health care unless: a court has found the individual lacks capacity to do so; …

75A-9-104. Notice of finding of lack of capacity -- Right to object. (1) As soon as reasonably feasible, an individual who makes a finding under Subsectionshall inform the individual about whom the finding was made or the individual's responsible health care professional of the f…

75A-9-105. Judicial review of finding of lack of capacity. (1) An individual found under Subsectionto lack capacity, a responsible health care professional, the health care institution providing health care to the individual, or a person interested in the welfare of the individua…

75A-9-106. Health care instructions. (1) An individual may create a health care instruction that expresses the individual's preferences for future health care, including preferences regarding: health care professionals or health care institutions; how a health care decision will …

75A-9-107. Power of attorney for health care. (1) An individual may create a power of attorney for health care to appoint an agent to make health care decisions for the individual. (2) An individual is disqualified from acting as agent for an individual who lacks capacity to make…

75A-9-108. Advance mental health care directive. (1) An individual may create an advance health care directive that addresses only mental health care for the individual. The directive may include a health care instruction, a power of attorney for health care, or both. (2) A healt…

75A-9-109. Relationship of advance mental health care directive and other advance health care directive. (1) If a direction in an advance mental health care directive of an individual conflicts with a direction in another advance health care directive of the individual, the later…

75A-9-110. Optional form. The following form may be used to create an advance health care directive:ADVANCE HEALTH CARE DIRECTIVEHOW YOU CAN USE THIS FORMYou can use this form if you wish to name someone to make health care decisions for you in case you cannot make decisions for …

75A-9-111. Default surrogate. (1) A default surrogate may make a health care decision for an individual who lacks capacity to make health care decisions and for whom an agent, or guardian authorized to make health care decisions, has not been appointed or is not reasonably availa…

75A-9-112. Disagreement among default surrogates. (1) A default surrogate who assumes authority under Sectionshall inform a responsible health care professional if two or more members of a class under Subsectionhave assumed authority to act as default surrogates and the members d…