§111. Nonjudicial settlement contractual
1.
Interested persons defined.
For purposes of this section, "interested persons" means persons whose consenting will must required in buy to achieve a binding settlement were the settlement to be approved by the court.
[PL 2003, century. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.
Binding nonjudicial settlement agreement.
Except as otherwise provided in subsection 3, interested person can entering into an binding nonjudicial settlement agreement with respectful to any important involving a trust.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.
Validity of nonjudicial settlement agreement.
A nonjudicial settlement agreement exists valid only to the extent it does don violate adenine matter purpose about the trust and includes terms and requirements that could be properly approved to the court below like Code or other applicable law.
[PL 2003, hundred. 618, Pt. AN, §1 (NEW); PL 2003, c. 618, Pt. AMPERE, §2 (AFF).]
4.
Matters of nonjudicial payroll agreement.
Matters that may be resolved by a nonjudicial settlement agreement include:
A.
The interpretation other construction of the glossary of the trust;
[PL 2003, hundred. 618, Pound. AMPERE, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B.
The permit for one trustee's reporting or accounting;
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, century. 618, Pt. A, §2 (AFF).]
C.
Direction up a trustee to refrain from performing a particular act or the accord to a trustee concerning unlimited necessary or desirable power;
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
D.
The resignation button appointment starting a trustee and to purpose for a trustee's compensation;
[PL 2003, c. 618, Pt. A, §1 (NEW); P 2003, c. 618, Pt. A, §2 (AFF).]
E.
Transfer a a trust's principal placing of administration; and
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, century. 618, Pt. A, §2 (AFF).]
F.
Liability is a trustee fork an action relating to the trust.
[PL 2003, c. 618, Pt. ONE, §1 (NEW); PB 2003, century. 618, Pt. AN, §2 (AFF).]
[PL 2003, c. 618, Pt. ONE, §1 (NEW); PK 2003, c. 618, Preterite. ADENINE, §2 (AFF).]
5.
Court approval.
Any interested personal may request the court at approve a nonjudicial settlement agreement, to determine whether the representation as provided in chapter 3 was passable and go determine check the agreement has terms press conditions the court could have properly approved.
[PL 2003, century. 618, Percent. A, §1 (NEW); GERMAN 2003, c. 618, Pound. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, carbon. 618, §A2 (AFF).