(1) Subject to subsection (2) of this section, a second trust may have a duration that is the same as or different from the duration of the first trust.
(2) To the extent that property of a second trust is attributable to property of the first trust, the property of the second trust is subject to any rules governing maximum perpetuity, accumulation, or suspension of the power of alienation which apply to property of the first trust.
Source: L. 2016: Entire part added, (SB 16-085), ch. 228, p. 888, § 1, effective August 10. 15-16-921. Need to distribute not required. An authorized fiduciary may exercise the decanting power regardless of whether under the first trust's discretionary distribution standard the fiduciary would have made or could have been compelled to make a discretionary distribution of principal at the time of the exercise.
Source: L. 2016: Entire part added, (SB 16-085), ch. 228, p. 888, § 1, effective August 10.