The meaning and effect of the terms of a trust are determined by:
A. the law of the jurisdiction designated in the terms unless the designation of that jurisdiction's law is contrary to a strong public policy of the jurisdiction having the most significant relationship to the matter at issue; or
B. in the absence of a controlling designation in the terms of the trust, the law of the jurisdiction having the most significant relationship to the matter at issue.
History: Laws 2003, ch. 122, § 1-107; 2007, ch. 128, § 5; 2011, ch. 124, § 94.
ANNOTATIONSThe 2011 amendment, effective January 1, 2012, provided that the law of the jurisdiction designated in a trust is the governing law for interpreting the trust.
The 2007 amendment, effective July 1, 2007, added the provision that the meaning and effect of the terms of the trust are determined by the law of the state designated in the terms of the trust.