Section 15-5-410 - Modification or termination of trust - proceedings for approval or disapproval

(1) In addition to the methods of termination prescribed by sections 15-5-411 to 15-5-414, a trust terminates to the extent that:(a) The trust is revoked or expires pursuant to its terms;(b) No purpose of the trust remains to be achieved; or(c) 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 pursuant to sections 15-5-411 to 15-5-416, or trust combination or division pursuant to section 15-5-417, may be commenced by a trustee or a beneficiary.Added by 2018 Ch. 169, § 1, eff. 1/1/2019.L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1163, § 1, effective 1/1/2019.