LD 921
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LR 466
Item 1

 
Islands or any territory or insular possession subject to the
jurisdiction of the United States.

 
17.__Terms of trust.__"Terms of a trust" means the
manifestation of the settlor's intent regarding a trust's
provisions as expressed in the trust instrument or as may be
established by other evidence that would be admissible in a
judicial proceeding.

 
18.__Trust instrument.__"Trust instrument" means an instrument
executed by the settlor that contains terms of the trust,
including any amendments to the instrument.

 
19.__Trustee.__"Trustee" includes an original, additional and
successor trustee, and a cotrustee, whether or not appointed or
confirmed by a court.

 
§104. Knowledge

 
1.__Person.__Subject to subsection 2, a person has knowledge
of a fact if the person:

 
A.__Has actual knowledge of it;

 
B.__Has received a notice or notification of it; or

 
C.__From all the facts and circumstances known to the person
at the time in question, has reason to know it.

 
2.__Organization.__An organization that conducts activities
through employees has notice or knowledge of a fact involving a
trust only from the time the information was received by an
employee having responsibility to act for the trust, or would
have been brought to the employee's attention if the organization
had exercised reasonable diligence.__An organization exercises
reasonable diligence if it maintains reasonable routines for
communicating significant information to the employee having
responsibility to act for the trust and there is reasonable
compliance with the routines. Reasonable diligence does not
require an employee of the organization to communicate
information unless the communication is part of the individual's
regular duties or the individual knows a matter involving the
trust would be materially affected by the information.

 
§105.__Default and mandatory rules

 
1.__Code governs.__Except as otherwise provided in the terms
of the trust, this Code governs the duties and powers of a
trustee, relations among trustees and the rights and interests of
a beneficiary.


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