72-3-916. Distribution to trustee -- registration -- bond. (1) Before making a distribution to a trustee, the personal representative may require that the trust be registered if the state in which it is to be administered provides for registration and may require that the trustee inform in writing the current beneficiaries and, if possible, one or more persons who under 72-1-303 may represent beneficiaries with future interests of the trustee's name and address and provide each with a copy of the terms of the trust that describe or affect the interest of the beneficiaries and with relevant information about the assets of the trust and the particulars relating to the administration.
(2) If the trust instrument does not excuse the trustee from posting bond, the personal representative may petition the appropriate court to require that the trustee post bond if the personal representative believes that distribution might jeopardize the interests of persons who are not able to protect themselves and the personal representative may withhold distribution until the court has acted.
(3) An inference of negligence on the part of the personal representative may not be drawn from the personal representative's failure to exercise the authority conferred by subsections (1) and (2).
History: En. 91A-3-913 by Sec. 1, Ch. 365, L. 1974; R.C.M. 1947, 91A-3-913; amd. Sec. 4, Ch. 6, L. 1979; amd. Sec. 2381, Ch. 56, L. 2009; amd. Sec. 36, Ch. 19, L. 2011.