58a-111.Nonjudicial settlementagreements.(a) Forpurposes of this section, "interested persons" means persons whoseconsent would berequired in order to achieve a binding settlement were the settlement to beapproved by the court.
(b) Except as otherwise provided in subsection (c), interested persons mayenter into a bindingnonjudicial settlement agreement with respect to the matters listed insubsection (d).
(c) A nonjudicial settlement agreement is valid only to the extent it doesnot violate a materialpurpose of the trust and includes terms and conditions that could be properlyapproved by the courtunder this code or other applicable law.
(d) Matters that may be resolved by a nonjudicial settlement agreementare limited to:
(1) The approval of a trustee's report or accounting;
(2) the resignation or appointment of a trustee and thedetermination of atrustee'scompensation;
(3) transfer of a trust's principal place ofadministration; and
(4) liability of a trustee for an action relating to thetrust.
(e) Any interested person may request the court to approve a nonjudicialsettlement agreement,to determine whether the representation as provided in article 3 of this codewas adequate,and to determinewhether the agreement contains terms and conditions the court could haveproperly approved.
History: L. 2002, ch. 133, § 11;L. 2006, ch. 23, § 5; July 1.
58a-111.Nonjudicial settlementagreements.(a) Forpurposes of this section, "interested persons" means persons whoseconsent would berequired in order to achieve a binding settlement were the settlement to beapproved by the court.
(b) Except as otherwise provided in subsection (c), interested persons mayenter into a bindingnonjudicial settlement agreement with respect to the matters listed insubsection (d).
(c) A nonjudicial settlement agreement is valid only to the extent it doesnot violate a materialpurpose of the trust and includes terms and conditions that could be properlyapproved by the courtunder this code or other applicable law.
(d) Matters that may be resolved by a nonjudicial settlement agreementare limited to:
(1) The approval of a trustee's report or accounting;
(2) the resignation or appointment of a trustee and thedetermination of atrustee'scompensation;
(3) transfer of a trust's principal place ofadministration; and
(4) liability of a trustee for an action relating to thetrust.
(e) Any interested person may request the court to approve a nonjudicialsettlement agreement,to determine whether the representation as provided in article 3 of this codewas adequate,and to determinewhether the agreement contains terms and conditions the court could haveproperly approved.
History: L. 2002, ch. 133, § 11;L. 2006, ch. 23, § 5; July 1.
58a-111.Nonjudicial settlementagreements.(a) Forpurposes of this section, "interested persons" means persons whoseconsent would berequired in order to achieve a binding settlement were the settlement to beapproved by the court.
(b) Except as otherwise provided in subsection (c), interested persons mayenter into a bindingnonjudicial settlement agreement with respect to the matters listed insubsection (d).
(c) A nonjudicial settlement agreement is valid only to the extent it doesnot violate a materialpurpose of the trust and includes terms and conditions that could be properlyapproved by the courtunder this code or other applicable law.
(d) Matters that may be resolved by a nonjudicial settlement agreementare limited to:
(1) The approval of a trustee's report or accounting;
(2) the resignation or appointment of a trustee and thedetermination of atrustee'scompensation;
(3) transfer of a trust's principal place ofadministration; and
(4) liability of a trustee for an action relating to thetrust.
(e) Any interested person may request the court to approve a nonjudicialsettlement agreement,to determine whether the representation as provided in article 3 of this codewas adequate,and to determinewhether the agreement contains terms and conditions the court could haveproperly approved.
History: L. 2002, ch. 133, § 11;L. 2006, ch. 23, § 5; July 1.
