The court may reform the terms of a governing instrument other than a trust that is governed by section 15-5-415, even if unambiguous, to conform the terms to the transferor's intention if it is proved by clear and convincing evidence what the transferor's intent was and that the terms of the governing instrument were affected by a mistake of fact or law, whether in expression or inducement.
Source: L. 2009: Entire section added, (HB 09-1287), ch. 310, p. 1687, § 15, effective July 1, 2010. L. 2018: Entire section amended, (SB 18-180), ch. 169, p. 1193, § 10, effective January 1, 2019.
Cross references: For provisions relating to the time of taking effect or the provisions for transition of this code, see § 15-17-101.