Maine Revised Statutes

Title 18-A, Article  7: TRUST ADMINISTRATION

Part 1: TRUST REGISTRATION

18-A §7-101. Registration of trusts (REPEALED)
18-A §7-102. Registration procedures (REPEALED)
18-A §7-103. Effect of registration (REPEALED)
18-A §7-104. Principal place of administration; jurisdiction (REPEALED)
18-A §7-105. Registration, qualification of foreign trustee

Part 2: JURISDICTION OF COURT CONCERNING TRUSTS

18-A §7-201. Court; jurisdiction over trusts (REPEALED)
18-A §7-202. Trust proceedings; venue (REPEALED)
18-A §7-203. Trust proceedings; dismissal of matters relating to foreign trusts (REPEALED)
18-A §7-204. Court; concurrent jurisdiction of litigation involving trusts and 3rd parties (REPEALED)
18-A §7-205. Proceedings for review of employment of agents and review of compensation of trustee and employees of trust (REPEALED)
18-A §7-206. Trust proceedings; initiation by notice; necessary parties (REPEALED)

Part 3: DUTIES AND LIABILITIES OF TRUSTEES

18-A §7-301. General duties not limited (REPEALED)
18-A §7-302. Trustee's standard of care and performance; fiduciary investments authorized (REPEALED)
18-A §7-303. Duty to inform and account to beneficiaries (REPEALED)
18-A §7-304. Duty to provide bond (REPEALED)
18-A §7-305. Trustee's duties; appropriate place of administration; deviation (REPEALED)
18-A §7-306. Personal liability of trustee to 3rd parties (REPEALED)
18-A §7-307. Limitations on proceedings against trustees after final account (REPEALED)

Part 4: POWERS OF TRUSTEES

18-A §7-401. Powers of trustee conferred by trust or by law (REPEALED)
18-A §7-402. Powers of trustees conferred by this Part (REPEALED)
18-A §7-403. Trustee's office not transferable (REPEALED)
18-A §7-404. Power of court to permit deviation or to approve transactions involving conflict of interest (REPEALED)
18-A §7-405. Powers exercisable by joint trustees; liability (REPEALED)
18-A §7-406. Third persons protected in dealing with trustee (REPEALED)
18-A §7-407. Prohibitions and requirements applicable to trusts which are private foundations
18-A §7-408. Trustees authorized to invest trust funds in affiliated investments; limitations

Part 5: COMMON TRUST FUNDS

18-A §7-501. Establishment of common trust funds
18-A §7-502. Court accountings
18-A §7-503. Application of Part

Part 6: BANK AND TRUST COMPANY NOMINEES

18-A §7-601. Registration in name of nominees
18-A §7-602. Separate records
18-A §7-603. Applicability of provisions

Part 7: UNIFORM PRINCIPAL AND INCOME ACT OF 1997

Subpart 1: DEFINITIONS AND FIDUCIARY DUTIES

18-A §7-701. Short title
18-A §7-702. Definitions
18-A §7-703. Fiduciary duties; general principles
18-A §7-704. Trustee's power to adjust
18-A §7-705. Power to convert to unitrust
18-A §7-706. Judicial review of discretionary powers

Subpart 2: DECENDENT'S ESTATE OR TERMINATING INCOME INTEREST

18-A §7-721. Determination and distribution of net income
18-A §7-722. Distribution to residuary and remainder beneficiaries

Subpart 3: APPORTIONMENT AT BEGINNING AND END OF INCOME INTEREST

18-A §7-731. When right to income begins and ends
18-A §7-732. Apportionment of receipts and disbursements when decedent dies or income interest begins
18-A §7-733. Apportionment when income interest ends

Subpart 4: ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST

18-A §7-741. Character of receipts
18-A §7-742. Distribution from trust or estate
18-A §7-743. Business and other activities conducted by trustee
18-A §7-744. Principal receipts
18-A §7-745. Rental property
18-A §7-746. Obligation to pay money
18-A §7-747. Insurance policies and similar contracts
18-A §7-748. Insubstantial allocations not required
18-A §7-749. Deferred compensation, annuities and similar payments
18-A §7-750. Liquidating asset
18-A §7-751. Minerals, water and other natural resources
18-A §7-752. Timber
18-A §7-753. Property not productive of income
18-A §7-754. Derivatives and options
18-A §7-755. Asset-backed securities

Subpart 5: ALLOCATION OF DISBURSEMENTS DURING ADMINISTRATION OF TRUST

18-A §7-761. Disbursements from income
18-A §7-762. Disbursements from principal
18-A §7-763. Transfers from income to principal for depreciation
18-A §7-764. Transfers from income to reimburse principal
18-A §7-765. Income taxes
18-A §7-766. Adjustments between principal and income because of taxes

Subpart 6: MISCELLANEOUS PROVISIONS

18-A §7-771. Uniformity of application and construction
18-A §7-772. Effective date
18-A §7-773. Application of Part to all trusts and estates
18-A §7-774. Transitional matters
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If you need legal advice, please consult a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007