reglab/statecodes huggingface dataset:
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 73 - Municipalities Investments › Section 7314.1 - Mutual funds

§ 7314.1. Mutual funds.
Notwithstanding that a bank or trust company or an affiliate provides services to the investment company or investment trust, including that of an investment advisor, custodian, transfer agent, registrar, sponsor, distributor or manager, and receives reasonable compensation for those services and notwithstanding any other provision of law, a bank or trust company acting as a fiduciary, agent or otherwise may invest and reinvest in the securities of an investment company registered under the Investment Company Act of 1940 (54 Stat. 789, 15 U.S.C. § 80a-1 et seq.) if the portfolio of the investment company or investment trust consists substantially of investments not prohibited by the governing instrument. With respect to any funds invested, the basis upon which compensation is calculated, expressed as a percentage of asset value or otherwise, shall be disclosed by prospectus, account statement or otherwise to all persons to whom statements of the account are rendered.
(Dec. 16, 1992, P.L.1163, No.152, eff. imd.; July 7, 2006, P.L.625, No.98, eff. imd.)
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 73 - Municipalities Investments › Section 7315 - Retention of investments

§ 7315. Retention of investments.
A fiduciary, if he exercises the same care and prudence as he would in the case of an authorized investment, may retain without liability for resulting loss:
(1) any asset received in kind, even though it is not an authorized investment;
(2) any asset purchased in reliance upon a construction, by the court, of the instrument or a provision contained therein even though the court in a subsequent proceeding adopts a contrary construction thereof; and
(3) shares of stock or other securities (and securities received as distributions in respect thereof) of a holding company subject to the Federal Bank Holding Company Act of 1956, as amended, received upon conversion of, or in exchange for, shares of stock or other securities of a bank or a holding company subject to the Federal Bank Holding Company Act of 1956, as amended, which the fiduciary was directed or authorized to retain, in the instrument establishing the trust or otherwise.
(June 12, 1973, P.L.62, No.25, eff. imd.; Oct. 12, 1984, P.L.929, No.182, eff. imd.)
1984 Amendment.
Act 182 amended par. (3).
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 73 - Municipalities Investments › Section 7315.1 - Retention of cash; temporary investments

§ 7315.1. Retention of cash; temporary investments.
(a) Uninvested cash.--
A fiduciary may hold cash uninvested:
(1) which he reasonably expects to:
(i) distribute to beneficiaries as income on a quarterly or more frequent basis;
(ii) use for payment of debts, taxes, expenses of administration or reinvestment within the next 90 days; or
(2) when the amount available for investment does not justify the administrative burden of making the investment determined in the light of the facilities available to the fiduciary.
A corporate fiduciary may deposit uninvested funds in its own commercial department.
(b) Temporary investments.--
A fiduciary may make temporary investment of funds which he is entitled to hold uninvested or which he wishes to hold in liquid form in short-term interest-bearing obligations or deposits, or other short-term liquid investments, selected in each case in compliance with the standards of section 7302(b) (relating to authorized investments; in general), but without regard to any investment restrictions imposed by the governing instrument and may make a reasonable charge, in addition to all other compensation to which he is entitled, for services rendered in making the temporary investment.
(Oct. 12, 1984, P.L.929, No.182, eff. imd.; Dec. 16, 1992, P.L.1163, No.152, eff. imd.)
1992 Amendment.
Act 152 amended subsec. (b). See section 27(b) of Act 152 in the appendix to this title for special provisions relating to applicability.
1984 Amendment.
Act 182 added section 7315.1.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 73 - Municipalities Investments › Section 7316 - Life insurance, building and loan shares, and similar assets

§ 7316. Life insurance, building and loan shares, and similar assets.
A fiduciary receiving in kind a contract of life insurance, stock in a building and loan association, or any similar asset providing for periodic payments, may retain it and continue to make the periodic payments and otherwise comply with the provisions thereof without liability for resulting loss so long as he, in the exercise of due care and prudence, shall consider advisable under the circumstances.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 73 - Municipalities Investments › Section 7317 - Investments which become unauthorized

§ 7317. Investments which become unauthorized.
A fiduciary may retain without liability for resulting loss any investment which was authorized when received or made although such investment no longer qualifies as an authorized investment, provided he exercises due care and prudence in the disposition or retention of any such nonlegal investment.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 73 - Municipalities Investments › Section 7318 - Court direction

§ 7318. Court direction.
A fiduciary appointed by the court and not acting under a trust instrument, in addition to or in place of the investments authorized by this chapter, may make and retain without liability for resulting loss, such investments as the court, upon petition of the fiduciary or of any party in interest, and after such notice as it shall direct, aided by the report of a master if necessary, shall authorize or direct, subject only to such conditions and limitations as shall be fixed by the court in the decree authorizing or directing the investment.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 73 - Municipalities Investments › Section 7319 - Directions of testator or settlor

§ 7319. Directions of testator or settlor.
(a) General rule.--
The testator or settlor in the instrument establishing a trust may prescribe the powers, duties and liabilities of the fiduciary regarding the investment or noninvestment of principal and income and the acquisition, by purchase or otherwise, retention, and disposition, by sale or otherwise, of any property which, at any time or by reason of any circumstance, shall come into his control; and whenever any such provision shall conflict with this chapter, such provision shall control notwithstanding this chapter, unless the court having jurisdiction over the trust shall otherwise decree pursuant to subsection (b) of this section. In the absence, however, of an express restriction to the contrary in the trust instrument, the fiduciary may invest in any investment authorized by this chapter.
(b) Exception.--
Where the instrument establishing a trust contains a restriction on the fiduciary's power of investment and the court having jurisdiction over the trust finds that adherence to the restriction is impractical or that the existing or reasonably foreseeable economic conditions are so far different from those prevailing at the creation of the trust that adherence to the restriction might deprive the respective beneficiaries of income and principal of the full benefits the testator or settlor intended them to enjoy, the court may release the fiduciary from the restriction to such extent and on such conditions, if any, as the court may deem appropriate.
(Dec. 10, 1974, P.L.867, No.293, eff. imd.)
1974 Amendment.
Act 293 amended subsec. (b).
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 75 - Limitations on Exercise of Trustee Powers and Powers of Beneficiaries to Appoint Trustees › Extra - Chapter Notes

Enactment.
Chapter 75 was added December 21, 1998, P.L.1067, No.141, effective immediately.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 75 - Limitations on Exercise of Trustee Powers and Powers of Beneficiaries to Appoint Trustees › Section 7501 - Legislative intent

§ 7501. Legislative intent.
This chapter is enacted to codify, clarify and confirm certain existing common law principles of fiduciary and trust law relating to conflicts of interest on the part of trustees.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 75 - Limitations on Exercise of Trustee Powers and Powers of Beneficiaries to Appoint Trustees › Section 7502 - Definitions

§ 7502. Definitions.
The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise:
"Interested party."
Each trustee then serving and each person having an interest in income or principal whom it would be necessary to join as a party in a proceeding for the judicial settlement of a trustee's account. The term "interested party" does not include a person who has not attained majority or is otherwise incapacitated unless a court has appointed a guardian for the person for some purpose other than acting under section 7503 (relating to application of chapter) or an agent has been appointed under a durable power of attorney that is sufficient to grant authority to act under section 7503.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 75 - Limitations on Exercise of Trustee Powers and Powers of Beneficiaries to Appoint Trustees › Section 7503 - Application of chapter

§ 7503. Application of chapter.
(a) General rule.--
This chapter shall apply to:
(1) Any trust created under a governing instrument executed on or after March 21, 1999, unless the governing instrument expressly provides that this chapter does not apply.
(2) Any trust created under a governing instrument executed before March 21, 1999, unless all interested parties affirmatively elect on or before December 21, 2001, by a written declaration signed by or on behalf of each interested party and delivered to the trustee, not to be subject to the application of this chapter. In the case of a testamentary trust, the declarations shall be filed with the register in the county in which the will was admitted to probate.
(b) Exclusion.--
This chapter shall not apply to:
(1) Any trust during the time that the trust is revocable or amendable by its settlor.
(2) A spouse of a decedent or settlor where the spouse is the trustee of a testamentary or inter vivos trust for which a marital deduction has been allowed.
(3) (Deleted by amendment).
(4) A trust under a governing instrument that by specific reference expressly rejects the application of this chapter.
(5) (Deleted by amendment).
(July 7, 2006, P.L.625, No.98, eff. 60 days)
2006 Amendment.
Act 98 amended subsec. (b).
Cross References.
Section 7503 is referred to in section 7502 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 75 - Limitations on Exercise of Trustee Powers and Powers of Beneficiaries to Appoint Trustees › Section 7505 - Joint powers and appointment of nondisqualified substituted trustees

§ 7505. Joint powers and appointment of nondisqualified substituted trustees.
If a governing instrument contains a power proscribed under section 7504 (relating to certain trustee powers not exercisable), the following shall apply:
(1) If the power is conferred on two or more trustees, it may be exercised by the trustee or trustees who are not so prohibited as if they were the only trustee or trustees.
(2) If there is no trustee in office who can exercise the power as provided in paragraph (1), the court, upon petition and hearing after such notice as it may direct, shall appoint a trustee who is not disqualified and whose term in office shall be as the court directs for the sole purpose of exercising the powers that the other trustees cannot exercise.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 75 - Limitations on Exercise of Trustee Powers and Powers of Beneficiaries to Appoint Trustees › Section 7506 - Certain powers of beneficiaries not exercisable

§ 7506. Certain powers of beneficiaries not exercisable.
(a) General rule.--
No beneficiary of a trust in an individual, trustee or other capacity may appoint himself or herself as trustee or remove a trustee and appoint in place of the trustee so removed a trustee who is related or subordinate to the beneficiary within the meaning of section 672(c) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 672(c)) in each case unless:
(1) the trustee's discretionary power to make distributions to or for the beneficiary is limited by an ascertainable standard relating to the beneficiary's health, education, support or maintenance within the meaning of sections 2041 and 2514 of the Internal Revenue Code of 1986 (26 U.S.C. §§ 2041 and 2514);
(2) the trustee's discretionary power may not be exercised to satisfy any of the beneficiary's legal obligations for support or other purposes; and
(3) the trustee's discretionary power may not be exercised to grant to the beneficiary a general power to appoint property of the trust to the beneficiary, the beneficiary's estate or the creditors of either within the meaning of section 2041 of the Internal Revenue Code of 1986 (26 U.S.C. § 2041).
(b) Exceptions.--
This section shall not apply:
(1) if the appointment of the trustee by the beneficiary may be made only in conjunction with another person having a substantial interest in the property of the trust subject to the power which is adverse to the exercise of the power in favor of the beneficiary within the meaning of section 2041(b)(1)(C)(ii) of the Internal Revenue Code of 1986 (26 U.S.C. § 2041(b)(1)(C)(ii)) or the appointment is in conformity with a procedure governing appointments approved by the court before December 21, 1998;
(2) to any beneficiary who possesses in an individual capacity an unlimited right to withdraw the entire principal of the trust or has a general testamentary power of appointment over the entire principal of the trust; or
(3) to a trust created under a governing instrument executed on or before March 21, 1999, if no part of the principal of the trust would have been included in the gross estate of the beneficiary for Federal estate tax purposes if the beneficiary had died on March 21, 1999.
(July 7, 2006, P.L.625, No.98, eff. 60 days)
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 76 - Powers of Appointment › Section 7601 - Definitions

§ 7601. Definitions.
The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise:
"Broad power of appointment."
A power of appointment that the donee may exercise in favor of any one or more of the following:
(1) One or more persons selected by the donee.
(2) The donee.
(3) The donee's estate.
(4) Every person other than the donee, the donee's creditors, the donee's estate or the creditors of the donee's estate.
"Limited power of appointment."
A power of appointment that is not a broad power of appointment. The term includes a power to appoint to the donee's creditors or the creditors of the donee's estate.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 76 - Powers of Appointment › Section 7603 - Contract to exercise power

§ 7603. Contract to exercise power.
(a) Contract prohibited.--
Unless the donor and donee are the same person, the donee of a power of appointment that is not presently exercisable may not contract to exercise the power.
(b) Actions for recovery.--
A prohibited contract under subsection (a), if made, may not be the basis of an action for specific performance or damages, but the promisee can obtain restitution from the donee of the value given for the promise, unless the donee has exercised the power pursuant to the contract.
(c) No limitation on disclaimer or release.--
This section does not limit the power of a donee to disclaim or release a power of appointment in whole or in part.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 76 - Powers of Appointment › Section 7604 - Manner of appointment

§ 7604. Manner of appointment.
(a) Outright or in trust.--
Subject to section 7602(e) (relating to exercise of powers of appointment), unless expressly prohibited by the instrument creating a power of appointment, a donee may exercise a power by appointing in any manner, including, but not limited to:
(1) Appointing outright to one or more objects of the power.
(2) Appointing to one or more trustees to hold the appointive property in trust for the benefit of one or more objects of the power and specifying the terms and administrative provisions of the trust and the powers and duties of the trustees, even if the trustees themselves are not objects of the power.
(3) Creating a broad or limited power of appointment exercisable by any one or more objects of the original power to whom the donee could have appointed outright, even if some of the objects of the new power are not among the objects of the original power, provided that if the original power is a limited power, other than a power to appoint to the donee's creditors or the creditors of the donee's estate:
(i) All the objects of the original power are among the objects of the new power.
(ii) All the takers in default of exercise of the new power are among the objects of the original power.
(b) Exclusive and nonexclusive powers.--
Unless the instrument creating a power of appointment expressly specifies a minimum share of, a minimum pecuniary amount of or a particular item of appointive property to be appointed to an object of the power, the donee may exclude any object of the power as the donee deems appropriate.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 76 - Powers of Appointment › Section 7605 - Antilapse provision

§ 7605. Antilapse provision.
(a) General rule.--
(1) Subject to paragraphs (2) and (3), in the absence of a contrary intent appearing in the instrument creating a power of appointment or, in the donee's instrument, exercising the power, an exercise of the power of appointment in favor of any of the following, whether designated by name or as one of a class, shall not fail if the appointee is not living at the time the appointment becomes effective:
(i) A child or other issue of the donee.
(ii) A brother or sister of the donee.
(iii) A child of a brother or sister of the donee.
(2) Paragraph (1) applies if:
(i) One or more issues of the appointee are living at the time the appointment becomes effective.
(ii) The issue under subparagraph (i), per stirpes, are objects of the power.
(3) The property appointed to the deceased appointee shall pass per stirpes to the appointee's issue living at the time the appointment becomes effective, but the appointment to a brother or sister or child of a brother or sister of the donee shall fail to the extent the property would pass to the spouse or issue of the donee if the appointment were to lapse.
(b) Lapsed share of residue.--
In the absence of a contrary intent appearing in the donee's instrument exercising a power of appointment, if an appointment of an amount or share of the residue of the property subject to the power fails, the amount or share shall pass to the other appointees of the residue of the property subject to the power, if any, in proportion to their shares in the residue of the property subject to the power.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 76 - Powers of Appointment › Section 7606 - Partially effective exercise

§ 7606. Partially effective exercise.
In the absence of a contrary intent appearing in the instrument creating a power of appointment or in the donee's instrument exercising the power, a partially ineffective exercise of a power of appointment shall not make ineffective any otherwise effective portion of the exercise, unless the appointment regarded as a whole constitutes such an integrated plan that the parts cannot be separated without defeating the plan.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Extra - Chapter Notes

Enactment.
Chapter 77 was added July 7, 2006, P.L.625, No.98, effective in 120 days.
Cross References.
Chapter 77 is referred to in section 6114 of this title; sections 5547, 5548, 5550,
            8620, 8818, 9115, 9135 of Title 15 (Corporations and Unincorporated Associations).
Cross References.
Subchapter A is referred to in section 7701 of this title.
Cross References.
Subchapter B is referred to in section 7701 of this title.
Cross References.
Subchapter C is referred to in sections 7701, 7710.1, 7740.1 of this title.
Cross References.
Subchapter D is referred to in section 7701 of this title.
Cross References.
Subchapter E is referred to in sections 7701, 7705 of this title.
Cross References.
Subchapter F is referred to in section 7701 of this title.
Cross References.
Subchapter G is referred to in section 7701 of this title.
Cross References.
Subchapter H is referred to in section 7701 of this title.
Cross References.
Subchapter I is referred to in section 7701 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7701 - Short title of chapter - UTC 101

§ 7701. Short title of chapter - UTC 101.
Subchapters A (relating to general provisions) through I (relating to liability of trustees and rights of persons dealing with trustees) shall be known and may be cited as the Uniform Trust Act.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7702 - Scope of chapter - UTC 102

§ 7702. Scope of chapter - UTC 102.
This chapter applies to express trusts, charitable and noncharitable, and trusts created pursuant to a statute, judgment or decree that requires the trust to be administered in the manner of an express trust.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7704 - Knowledge - UTC 104

§ 7704. Knowledge - UTC 104.
(a) When person has knowledge.--
For the purposes of this chapter and subject to subsection (b), a person has knowledge of a fact involving a trust if the person has:
(1) actual knowledge of it;
(2) received a notice or notification of it; or
(3) reason to know it from all the facts and circumstances known to the person at the time in question.
(b) Employees.--
For the purposes of this chapter, an organization that conducts activities through employees has notice or knowledge of a fact involving a trust only from the time the information was received by an employee having responsibility to act for the trust or would have been brought to the employee's attention if the organization had exercised reasonable diligence. An organization exercises reasonable diligence if it maintains reasonable routines for communicating significant information to the employee having responsibility to act for the trust and there is reasonable compliance with the routines. Reasonable diligence does not require an employee of the organization to communicate information unless the communication is part of the individual's regular duties or the individual knows a matter involving the trust would be materially affected by the information.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7705 - Trust instrument controls; mandatory rules - UTC 105

§ 7705. Trust instrument controls; mandatory rules - UTC 105.
(a) Trust instrument controls.--
Except as provided in subsection (b), the provisions of a trust instrument prevail over any contrary provisions of this chapter.
(b) Mandatory rules.--
Notwithstanding a contrary provision in the trust instrument, the following rules apply:
(1) The requirements for creating a trust set forth in section 7732 (relating to requirements for creation - UTC 402).
(2) The duty of a trustee to act in good faith and in accordance with the purposes of the trust as set forth in section 7771 (relating to duty to administer trust - UTC 801).
(3) The requirement in section 7734 (relating to trust purposes - UTC 404) that a trust's purpose be lawful and not contrary to public policy.
(4) The power of the court to modify or terminate a trust under sections 7740 (relating to termination of trusts; proceedings for termination or modification of trusts - UTC 410) through 7740.6 (relating to modification to achieve settlor's tax objectives - UTC 416).
(5) The effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in Subchapter E (relating to creditor's claims; spendthrift and discretionary trusts).
(6) The power of the court under section 7762 (relating to trustee's bond - UTC 702).
(7) The power of the court under section 7768(b) (relating to compensation of trustee - UTC 708) to adjust a trustee's compensation specified in the trust instrument.
(8) The duty of a trustee under section 7780.3 (relating to duty to inform and report).
(9) (Reserved).
(10) The effect of an exculpatory term under section 7788 (relating to exculpation of trustee - UTC 1008).
(11) The rights under sections 7790 (relating to limitation on personal liability of trustee - UTC 1010) through 7790.3 (relating to certification of trust - UTC 1013) of a person other than a trustee or beneficiary.
(12) Periods of limitation for commencing a judicial proceeding.
(13) The power of the court to take action and exercise jurisdiction as may be necessary in the interests of justice.
(14) The subject matter jurisdiction of the court described in Chapter 7 (relating to orphans' court divisions) and venue for commencing a proceeding as provided in section 7714 (relating to venue - UTC 204).
Cross References.
Section 7705 is referred to in section 7707 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7706 - Common law of trusts; principles of equity - UTC 106

§ 7706. Common law of trusts; principles of equity - UTC 106.
The common law of trusts and principles of equity supplement this chapter, except to the extent modified by this chapter or another statute of this Commonwealth.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7707 - Governing law - UTC 107

§ 7707. Governing law - UTC 107.
The meaning and effect of the provisions of a trust instrument shall be determined by:
(1) the law of the jurisdiction designated in the trust instrument, but the mandatory rules of section 7705(b) (relating to trust instrument controls; mandatory rules - UTC 105) shall govern if different from the law of the jurisdiction designated in the trust instrument; or
(2) in the absence of an effective designation in the trust instrument, the law of the jurisdiction in which the settlor is domiciled when the trust becomes irrevocable.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7709 - Methods and waiver of notice - UTC 109

§ 7709. Methods and waiver of notice - UTC 109.
(a) Notice generally.--
Notice to a person under this chapter or the sending of a document to a person under this chapter must be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. Permissible methods of notice or for sending a document include first-class mail, personal delivery, delivery to the person's last known place of residence or place of business and a properly directed electronic message.
(b) Unknown identity or location.--
Notice otherwise required under this chapter or a document otherwise required to be sent under this chapter need not be provided to a person whose identity or location is unknown to and not reasonably ascertainable by the trustee, but the trustee shall create and maintain indefinitely a written record of the steps the trustee took to identify or locate the person.
(c) Waiver.--
Notice under this chapter or the sending of a document under this chapter may be waived in writing by the person to be notified or sent the document.
(d) Notice of judicial proceeding.--
Notice of a judicial proceeding must be given as provided in the applicable rules of court.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7710 - Notice; others treated as beneficiaries - UTC 110

§ 7710. Notice; others treated as beneficiaries - UTC 110.
(a) Notice.--
Whenever notice to qualified or current beneficiaries of a trust is required under this chapter, the trustee must also give notice to any other beneficiary who has sent the trustee a written request for notice.
(b) Enforcement by charitable organization expressly named in instrument.--
A charitable organization expressly named in the trust instrument to receive distributions from the trust has the rights of a beneficiary under this chapter.
(c) Enforcement by others.--
A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in section 7738 (relating to trust for care of animal - UTC 408) or 7739 (relating to noncharitable trust without ascertainable beneficiary - UTC 409) has the rights of a beneficiary under this chapter.
(d) Office of Attorney General.--
The Office of Attorney General has the rights of a charitable organization expressly named in the trust instrument to receive distributions from a trust having its situs in this Commonwealth and the right to notice of any proceeding or nonjudicial settlement agreement in which there is a charitable interest or purpose.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7710.1 - Nonjudicial settlement agreements - UTC 111

§ 7710.1. Nonjudicial settlement agreements - UTC 111.
(a) (Reserved).
(b) General rule.--
Except as otherwise provided in subsection (c), all beneficiaries and trustees of a trust may enter into a binding nonjudicial settlement agreement with respect to any matter involving the trust. The rules of Subchapter C (relating to representation) shall apply to a settlement agreement under this section.
(c) Exception.--
A nonjudicial settlement agreement is valid only to the extent it is not inconsistent with a material purpose of the trust and includes terms and conditions that could be properly approved by the court under this chapter or other applicable law.
(d) Matters that may be resolved.--
Matters that may be resolved by a nonjudicial settlement agreement include the following:
(1) The interpretation or construction of the provisions of a trust instrument.
(2) The approval of a trustee's report or accounting or waiver of the preparation of a trustee's report or accounting.
(3) Direction to a trustee to perform or refrain from performing a particular act.
(4) The resignation or appointment of a trustee and the determination of a trustee's compensation.
(5) Transfer of a trust's situs.
(6) Liability or release from liability of a trustee for an action relating to the trust.
(7) The grant to a trustee of any necessary or desirable power.
(8) The exercise or nonexercise of any power by a trustee.
(9) Questions relating to the property or an interest in property held as part of a trust.
(10) An action or proposed action by or against a trust or trustee.
(11) The modification or termination of a trust.
(12) An investment decision, policy, plan or program of a trustee.
(13) Any other matter concerning the administration of a trust.
(e) Request of court.--
Any beneficiary or trustee of a trust may request the court to approve a nonjudicial settlement agreement to determine whether the representation as provided in Subchapter C was adequate or whether the agreement contains terms and conditions the court could have properly approved.
(July 8, 2016, P.L.497, No.79, eff. Jan. 1, 2017)
2016 Amendment.
Act 79 amended subsec. (c).
Cross References.
Section 7710.1 is referred to in sections 7721, 7765 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7710.2 - Rules of construction - UTC 112

§ 7710.2. Rules of construction - UTC 112.
The rules of construction that apply in this Commonwealth to the provisions of testamentary trusts also apply as appropriate to the provisions of inter vivos trusts.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7711 - Role of court in administration of trust - UTC 201

§ 7711. Role of court in administration of trust - UTC 201.
(a) Judicial intervention.--
The court may intervene in the administration of a trust to the extent its jurisdiction is invoked by an interested person or as provided by law.
(b) Judicial supervision.--
A trust is not subject to continuing judicial supervision unless ordered by the court.
(c) Scope of proceeding.--
A judicial proceeding involving a trust may relate to any matter involving the trust's administration, including a request for declaratory judgment.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7712 - Jurisdiction over trustee and beneficiary - UTC 202

§ 7712. Jurisdiction over trustee and beneficiary - UTC 202.
(a) Personal jurisdiction over trustee.--
By accepting the trusteeship of a trust having its situs in this Commonwealth or by moving the situs to this Commonwealth, the trustee submits personally to the jurisdiction of the courts of this Commonwealth regarding any matter involving the trust.
(b) Personal jurisdiction over beneficiary.--
With respect to their interests in the trust, the beneficiaries of a trust having its situs in this Commonwealth are subject to the jurisdiction of the courts of this Commonwealth regarding any matter involving the trust. By not releasing or disclaiming the beneficiary's beneficial interest in the trust, a beneficiary of a trust having its situs in this Commonwealth submits personally to the jurisdiction of the courts of this Commonwealth regarding any matter involving the trust.
(c) Additional jurisdictional methods.--
This section does not preclude other methods of obtaining jurisdiction over a trustee, beneficiary or other person receiving property from the trust.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7714 - Venue - UTC 204

§ 7714. Venue - UTC 204.
(a) General rule.--
Except as otherwise provided in subsection (b), venue for a judicial proceeding involving a trust is in the county of this Commonwealth in which the trust's situs is located and, if the trust is created by will and the estate is not yet closed, in the county in which the decedent's estate is being administered.
(b) Exceptions.--
(1) If a trust has no trustee, venue for a judicial proceeding for the appointment of a trustee is in:
(i) any county in which a beneficiary resides;
(ii) any county in which trust property is located; or
(iii) if the trust is created by will, the county in which the decedent's estate was or is being administered.
(2) The venue of proceedings that are pending on the effective date of this section shall not be disturbed.
Cross References.
Section 7714 is referred to in sections 7705, 7708 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7721 - Scope; definition of trust matter

§ 7721. Scope; definition of trust matter.
(a) Scope.--
This subchapter shall apply to this entire chapter unless the context clearly specifies the contrary.
(b) Definition.--
As used in this subchapter, the term "trust matter" includes a judicial proceeding and a nonjudicial settlement, agreement or act pertaining to any matter listed in section 7710.1(d) (relating to nonjudicial settlement agreements - UTC 111).
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7722 - Representation of parties in interest in general

§ 7722. Representation of parties in interest in general.
(a) Judicial proceeding.--
In a judicial proceeding involving a trust matter, an order or decree of the court that binds the representative is binding upon a person, class of persons or both represented in accordance with section 7723 (relating to representatives and persons represented) if:
(1) the trustee notifies the representative in writing whom he represents and the representative does not decline the representation as provided in section 7725 (relating to notice of representation);
(2) a petitioner, whether or not a trustee, avers the representation in a petition before the court, the representative is the petitioner or a respondent over whom the court has jurisdiction and, if a respondent, the representative does not decline the representation in a responsive pleading filed and served as required by law; or
(3) the representative has signed a certification of representation described in subsection (d) and has not rescinded the certification on the court's records by the time the court acts upon the petition.
(b) Nonjudicial resolution.--
In a nonjudicial resolution of a trust matter, notice to, the consent or approval of or the waiver or release by the representative is binding upon a person, class of persons or both represented in accordance with section 7723 if:
(1) the trustee notifies the representative in writing whom he represents and the representative does not decline the representation as provided in section 7725; or
(2) the representative has signed a certification of representation described in subsection (d) and has not rescinded the certification in a writing received by the trustee by the time of the nonjudicial settlement.
(c) Permissible consideration.--
In making decisions, a representative may consider the general benefit accruing to the living members of the family of the person represented.
(d) Certification of representation.--
(1) A certification signed by the representative describing his representation of another person, class of persons or both in accordance with section 7723 may be filed with:
(i) the court, in the case of a judicial proceeding; or
(ii) the trustee, in the case of a nonjudicial resolution of a trust matter.
(2) Subject to paragraph (3), a certification of representation may be rescinded in a writing signed by the representative and filed with:
(i) the court at any time before the court acts in reliance upon the certification, in the case of a judicial proceeding; or
(ii) the trustee before a trust matter is resolved without application to the court.
(3) A representative's rescission of a certification of representation shall have no effect upon actions taken by a trustee in good faith reliance upon the certification.
(July 8, 2016, P.L.497, No.79, eff. Jan. 1, 2017)
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7724 - Appointment of representative

§ 7724. Appointment of representative.
Notwithstanding any other provision of this subchapter, if in any judicial proceeding involving a trust matter the court determines that the representation provided by section 7723 (relating to representatives and persons represented) is or might be inadequate, the court may appoint a guardian ad litem or trustee ad litem to represent the inadequately represented person, class of persons or both.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7725 - Notice of representation

§ 7725. Notice of representation.
A person representing another must be given written notice by the trustee that the person is representing the other person. A person to whom the notice is given is presumed to accept the representation unless the person declines the representation in a writing delivered to the trustee no later than 30 days after receipt of the notice.
(Oct. 27, 2010, P.L.837, No.85, eff. 60 days)
Cross References.
Section 7725 is referred to in section 7722 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7726 - Representation ineffective if person objects

§ 7726. Representation ineffective if person objects.
Notwithstanding the provisions of this subchapter, a person may not represent another who is sui juris and files a written objection to representation with the trustee.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7731 - Creation of trust - UTC 401

§ 7731. Creation of trust - UTC 401.
A trust may be created by:
(1) transfer of property under a written instrument to another person as trustee during the settlor's lifetime or by will or other written disposition taking effect upon the settlor's death;
(2) written declaration, signed by or on behalf and at the direction of the owner of property as required by section 7732 (relating to requirements for creation - UTC 402), that the owner holds identifiable property as trustee; or
(3) written exercise of a power of appointment in favor of a trustee.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7732 - Requirements for creation - UTC 402

§ 7732. Requirements for creation - UTC 402.
(a) Requirements.--
A trust is created only if:
(1) the settlor has capacity to create a trust;
(2) the settlor signs a writing that indicates an intention to create the trust and contains provisions of the trust;
(3) the trust has a definite beneficiary or is:
(i) a charitable trust;
(ii) a trust for the care of an animal, as provided in section 7738 (relating to trust for care of animal - UTC 408); or
(iii) a trust for a noncharitable purpose, as provided in section 7739 (relating to noncharitable trust without ascertainable beneficiary - UTC 409);
(4) the trustee has duties to perform; and
(5) the same person is not the sole trustee and sole beneficiary of the trust.
(b) (Reserved).
(b.1) Signature by mark or another.--
A trust instrument other than a will may be signed by mark or by a person other than the settlor on behalf of and at the direction of the settlor in the same manner as a power of attorney under Chapter 56 (relating to powers of attorney).
(c) Power to select beneficiary from indefinite class.--
A power in a trustee to select a beneficiary from an indefinite class is valid. If the power with respect to a noncharitable trust is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred.
(d) Definition.--
As used in this section, the term "definite beneficiary" means a beneficiary that can be ascertained now or in the future, subject to any applicable rule against perpetuities.
Cross References.
Section 7732 is referred to in sections 7705, 7731 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7733 - Written trusts created in other jurisdictions - UTC 403

§ 7733. Written trusts created in other jurisdictions - UTC 403.
A written trust not created by will is validly created if its creation complies with the law of the jurisdiction in which the trust instrument was executed or the law of the jurisdiction in which, at the time of creation:
(1) the settlor was domiciled, had a residence or was a national;
(2) a trustee was domiciled or had a place of business; or
(3) any trust property was located.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7734 - Trust purposes - UTC 404

§ 7734. Trust purposes - UTC 404.
A trust may be created only to the extent its purposes are lawful and not contrary to public policy.
Cross References.
Section 7734 is referred to in section 7705 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7735 - Charitable purposes; enforcement - UTC 405

§ 7735. Charitable purposes; enforcement - UTC 405.
(a) Purposes.--
A charitable trust may be created for the relief of poverty, the advancement of education or religion, the promotion of health, governmental or municipal purposes or other purposes the achievement of which is beneficial to the community.
(b) Selection by court.--
If the provisions of a charitable trust instrument do not indicate or authorize the trustee to select a particular charitable purpose or beneficiary, the court may select one or more charitable purposes or beneficiaries. The selection must be consistent with the settlor's intention to the extent it can be ascertained.
(c) Proceeding to enforce trust.--
A proceeding to enforce a charitable trust may be brought by the settlor during the settlor's lifetime or at any time by the Attorney General, a charitable organization expressly named in the trust instrument to receive distributions from the trust or any other person who has standing to do so.
Cross References.
Section 7735 is referred to in section 7703 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7736 - Creation of trust induced by fraud, duress or undue influence - UTC 406

§ 7736. Creation of trust induced by fraud, duress or undue influence - UTC 406.
A trust or an amendment to a trust is voidable to the extent its creation was induced by fraud, duress or undue influence.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES › Chapter 77 - Trusts › Section 7738 - Trust for care of animal - UTC 408

§ 7738. Trust for care of animal - UTC 408.
(a) Creation and termination.--
A trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor's lifetime, upon the death of the last surviving animal.
(b) Enforcement.--
A trust authorized by this section may be enforced by a person appointed in the trust instrument or, if no person is so appointed, by a person appointed by the court. A person having an interest in the welfare of the animal may request the court to appoint a person to enforce the trust or to remove a person appointed.
(c) Limitation.--
Property of a trust authorized by this section may be applied only to its intended use, except to the extent the court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the trust instrument, property not required for the intended use must be distributed to the settlor if then living, otherwise to the settlor's successors in interest.
Cross References.
Section 7738 is referred to in sections 7710, 7732, 7739 of this title.