Section 55-3-40 - Validity, construction, and administration of trust with state jurisdiction provision

55-3-40. Validity, construction, and administration of trust with state jurisdiction provision.The validity, construction, and administration of a trust with a state jurisdiction provision are determined by the laws of this state, including the:(1)Capacity of the trustor;(2)Powers, obligations, liabilities, and rights of the trustees and the appointment and removal of the trustees; and(3)Existence and extent of powers, conferred or retained, including a trustee's discretionary powers, and the validity of the exercise of a power. Source: SL 1998, ch 282, §21.