Section 2-3-905 - Unitrust Election by Beneficiary; Ability to Request Trustee Action

2-3-905. Unitrust election by beneficiary; ability to request trustee action. (a) A beneficiary, who is receiving, or is entitled to receive, income under the trust or to receive a distribution of principal if the trust were terminated, may: (i) Submit to the trustee a written request to convert an income trust to a total return unitrust; (ii) Reconvert a total return unitrust to an income trust; or (iii) Change the percentage used to calculate the unitrust amount pursuant to W.S. 2-3-904. (b) If the trustee declines or fails to act within six (6) months of receipt of the written request, the beneficiary may petition the district court to order the conversion or adjustment.