72-38-410. Modification or termination of trust -- proceedings for approval or disapproval. (1) In addition to the methods of termination prescribed by 72-38-411 through 72-38-414, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve.
(2) A proceeding to approve or disapprove a proposed modification or termination under 72-38-411 through 72-38-416 or a trust combination or division under 72-38-417 may be commenced by a trustee or beneficiary, and a proceeding to approve or disapprove a proposed modification or termination under 72-38-411 may be commenced by the settlor. The settlor of a charitable trust may maintain a proceeding to modify the trust under 72-38-413.
History: En. Sec. 59, Ch. 264, L. 2013.