Section 55-2-17 - Conditions under which beneficiary has power to change trustees

55-2-17. Conditions under which beneficiary has power to change trustees.For the purposes of §55-2-15, a beneficiary shall be considered to have the power to 'change the trustees' if he or she can, alone or with others, name himself or herself as a trustee or can remove a trustee and replace that trustee with a new trustee who is the beneficiary or who is related or subordinate (as defined in §672 of the I.R.C.) to the beneficiary. Source: SL 2007, ch 281, §3; SL 2009, ch 252, §18.