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The final text of the Uniform Trust Code (UTC) was approved by the ULC commissioners in August 2000. The American Bar Association's House of Delegates officially endorsed the UTC in February 2001. The following months saw the finalization of detailed interpretive comments in April 2001 and minor clean-up revisions in August 2001. [2]
The UTC also covers a trust created for the purpose of caring for an animal that was alive at the time of a grantor's death [100] or a trust for a non-charitable purpose but does not have an ascertainable beneficiary (such as a cemetery trust.) [101] The Code imposes several limits on such trusts.
In the United States many states have enacted the Uniform Trust Code ("UTC"). The UTC codifies that cy-près applies only to charitable trusts where the original particular purpose of the trust has become impossible or impracticable, and the terms of the trust do not specify what is to happen in such a situation. The UTC provides that "if a ...
Some U.S. states are adapting the Uniform Trust Code to codify and harmonize their trust laws, ... This page was last edited on 14 January 2025, at 15:55 (UTC).
The aim of the law is to ensure that the intention of the trust creator or decedent is carried out, and to govern the proper distribution of assets to trust beneficiaries, heirs and devisees. [1] To be enacted into law, the Act must be adopted by the state legislature. To date, most states have adopted the Act (sometimes with modifications). [2]
This page was last edited on 13 February 2012, at 13:07 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
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Uniform Commercial Code: 2001 Uniform Common Interest Ownership Act: 1982, 1994 Uniform Common Trust Fund Act: 1938, 1952 Uniform Comparative Fault Act: 1977, 1979 Uniform Computer Information Transactions Act: 1999; withdrawn 2002 Uniform Condominium Act: 1977, 1980 Uniform Conflict of Laws—Limitations Act: 1982 Uniform Conservation Easement ...