LD 921
pg. 17
Page 16 of 58 PUBLIC Law Chapter 618 Page 18 of 58
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LR 466
Item 1

 
1.__Modification or termination.__The court may modify the
administrative or dispositive terms of a trust or terminate the
trust if, because of circumstances not anticipated by the
settlor, modification or termination will further the purposes of
the trust. To the extent practicable, the modification must be
made in accordance with the settlor's probable intention.

 
2.__Modification of administrative terms.__The court may
modify the administrative terms of a trust if continuation of the
trust on its existing terms would be impracticable or wasteful or
impair the trust's administration.

 
3.__Distribution after termination.__Upon termination of a
trust under this section, the trustee shall distribute the trust
property in a manner consistent with the purposes of the trust.

 
§413. Cy pres

 
1.__Charitable purpose becomes unlawful, impracticable,
impossible to achieve or wasteful.__Except as otherwise provided
in subsection 2, if a particular charitable purpose of a trust
becomes unlawful, impracticable, impossible to achieve or
wasteful:

 
A.__The trust does not fail, in whole or in part;

 
B.__The trust property does not revert to the settlor or the
settlor's successors in interest; and

 
C.__The court may apply cy pres to modify or terminate the
trust by directing that the trust property be applied or
distributed, in whole or in part, in a manner consistent
with the settlor's charitable purposes.

 
2.__Noncharitable beneficiary.__A provision in the terms of a
charitable trust that would result in distribution of the trust
property to a noncharitable beneficiary prevails over the power
of the court under subsection 1 to apply cy pres to modify or
terminate the trust only if, when the provision takes effect:

 
A.__The trust property is to revert to the settlor and the
settlor is still living; or

 
B.__Fewer than 50 years have elapsed since the date of the
trust's creation.

 
§414.__Modification or termination of uneconomic trust

 
1.__Termination by trustee after notice.__After notice to the
qualified beneficiaries, the trustee of a trust consisting of


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