A. For purposes of this section, "interested persons" means persons whoseconsent would be required in order to achieve a binding settlement were thesettlement to be approved by the court.
B. Except as otherwise provided in subsection C, interested persons may enterinto a binding nonjudicial settlement agreement with respect to any matterinvolving a trust.
C. A nonjudicial settlement agreement is valid only to the extent it does notviolate a material purpose of the trust and includes terms and conditionsthat could be properly approved by the court under this chapter or otherapplicable law.
D. Matters that may be resolved by a nonjudicial settlement agreement include:
1. The interpretation or construction of the terms of the trust;
2. The approval of a trustee's report or accounting;
3. Direction to a trustee to refrain from performing a particular act or thegrant to a trustee of any necessary or desirable power;
4. The resignation or appointment of a trustee and the determination of atrustee's compensation;
5. Transfer of a trust's principal place of administration; and
6. Liability of a trustee for an action relating to the trust.
E. Any interested person may petition the court to approve a nonjudicialsettlement agreement, to determine whether the representation as provided inArticle 3 was adequate, and to determine whether the agreement contains termsand conditions the court could have properly approved.
A. For purposes of this section, "interested persons" means persons whoseconsent would be required in order to achieve a binding settlement were thesettlement to be approved by the court.
B. Except as otherwise provided in subsection C, interested persons may enterinto a binding nonjudicial settlement agreement with respect to any matterinvolving a trust.
C. A nonjudicial settlement agreement is valid only to the extent it does notviolate a material purpose of the trust and includes terms and conditionsthat could be properly approved by the court under this chapter or otherapplicable law.
D. Matters that may be resolved by a nonjudicial settlement agreement include:
1. The interpretation or construction of the terms of the trust;
2. The approval of a trustee's report or accounting;
3. Direction to a trustee to refrain from performing a particular act or thegrant to a trustee of any necessary or desirable power;
4. The resignation or appointment of a trustee and the determination of atrustee's compensation;
5. Transfer of a trust's principal place of administration; and
6. Liability of a trustee for an action relating to the trust.
E. Any interested person may petition the court to approve a nonjudicialsettlement agreement, to determine whether the representation as provided inArticle 3 was adequate, and to determine whether the agreement contains termsand conditions the court could have properly approved.
A. For purposes of this section, "interested persons" means persons whoseconsent would be required in order to achieve a binding settlement were thesettlement to be approved by the court.
B. Except as otherwise provided in subsection C, interested persons may enterinto a binding nonjudicial settlement agreement with respect to any matterinvolving a trust.
C. A nonjudicial settlement agreement is valid only to the extent it does notviolate a material purpose of the trust and includes terms and conditionsthat could be properly approved by the court under this chapter or otherapplicable law.
D. Matters that may be resolved by a nonjudicial settlement agreement include:
1. The interpretation or construction of the terms of the trust;
2. The approval of a trustee's report or accounting;
3. Direction to a trustee to refrain from performing a particular act or thegrant to a trustee of any necessary or desirable power;
4. The resignation or appointment of a trustee and the determination of atrustee's compensation;
5. Transfer of a trust's principal place of administration; and
6. Liability of a trustee for an action relating to the trust.
E. Any interested person may petition the court to approve a nonjudicialsettlement agreement, to determine whether the representation as provided inArticle 3 was adequate, and to determine whether the agreement contains termsand conditions the court could have properly approved.
