Transactions Authorized

Checkout our iOS App for a better way to browser and research.

Sec. 7.5. A transaction otherwise prohibited by section 7 of this chapter is authorized if:

(1) the proposed prohibited transaction is authorized by the written consent of all qualified beneficiaries; or

(2) the proposed prohibited transaction is approved by an order of the court issued after:

(A) notice to all qualified beneficiaries; and

(B) a hearing to ensure that adequate consideration is received by or delivered from the trust for the interest transferred.

As added by P.L.194-2017, SEC.10.


Download our app to see the most-to-date content.