Code of Alabama
Title 19 - Fiduciaries and Trusts.

Section 19-1A-7 - (Effective January 1, 2018) Disclosure of Content of Electronic Communications of Deceased User. - If a deceased user consented or a court directs disclosure...

Section 19-1A-8 - (Effective January 1, 2018) Disclosure of Other Digital Assets of Deceased User. - Unless the user prohibited disclosure of digital assets or the...

Section 19-1A-9 - (Effective January 1, 2018) Disclosure of Content of Electronic Communications of Principal. - To the extent a power of attorney expressly grants an...

Section 19-1A-10 - (Effective January 1, 2018) Disclosure of Other Digital Assets of Principal. - Unless otherwise ordered by the court, directed by the principal,...

Section 19-1A-11 - (Effective January 1, 2018) Disclosure of Digital Assets Held in Trust When Trustee Is Original User. - Unless otherwise ordered by the court or provided in a...

Section 19-1A-12 - (Effective January 1, 2018) Disclosure of Contents of Electronic Communications Held in Trust When Trustee Not Original User. - Unless otherwise ordered by the court, directed by the user,...

Section 19-1A-13 - (Effective January 1, 2018) Disclosure of Other Digital Assets Held in Trust When Trustee Not Original User. - Unless otherwise ordered by the court, directed by the user,...

Section 19-1A-14 - (Effective January 1, 2018) Disclosure of Digital Assets to Conservator of Protected Person. - (a) After an opportunity for a hearing, the court may...

Section 19-1A-15 - (Effective January 1, 2018) Fiduciary Duty and Authority. - (a) The legal duties imposed on a fiduciary charged with...

Section 19-1A-16 - (Effective January 1, 2018) Custodian Compliance and Immunity. - (a) Not later than 60 days after receipt of the...

Section 19-1A-17 - (Effective January 1, 2018) Uniformity of Application and Construction. - In applying and construing this uniform act, consideration must be...

Section 19-1A-18 - (Effective January 1, 2018) Relation to Electronic Signatures in Global and National Commerce Act. - This chapter modifies, limits, or supersedes the Electronic Signatures in...

Chapter 2 - Fiduciaries in War Service.

Section 19-2-1 - Definitions. - (a) When used in this chapter, unless the context otherwise...

Section 19-2-2 - Removal of Fiduciary; Appointment of Successor; Accounting by Fiduciary. - Any fiduciary engaged in war service may be removed from...

Section 19-2-3 - Reappointment of Removed Fiduciary. - If any fiduciary in war service be removed from office...

Section 19-2-4 - Notice of Petition; Representation by Attorney. - Notice of any petition to remove a fiduciary in war...

Section 19-2-5 - Bond. - Unless exempted from so doing by law or trust instrument...

Chapter 3 - Trusts.

Article 1 - General Provisions.

Section 19-3-1 - Express Trust for Support, Maintenance and Education of Relative; Qualified Trust Under Internal Revenue Code; Definitions. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-2 - Extinguishment of Trust. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-3 - Estate of Trustee; Termination of Trust Estate. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-4 - Indemnification of Trustee. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-5 - Notice of Settlement. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-6 - Allowance of Fees. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-7 - Registration of Securities Held by Corporate Fiduciary in Name of Nominee of Such Fiduciary. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-8 - Execution of Proxies by Fiduciary Holding Corporate Stocks. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-9 - Satisfaction of Pecuniary Gifts by Distribution of Property in Kind. - (a) Where by the terms of a will or trust...

Section 19-3-10 - Conversion or Exchange, etc., of Securities Upon Merger, Consolidation, Etc. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-11 - Powers of Fiduciaries Regarding Environmental Laws Affecting Property Held by Fiduciary. - (a) In addition to powers, remedies and rights which may...

Article 2 - Express Trusts for Payment or Security of Debts.

Section 19-3-20 - Right of Creditors to Apply for Order Requiring Trustee to Give Bond. - When an express trust is created for the payment or...

Section 19-3-21 - Contents of Application; Notice of Hearing. - The application must be in writing, verified by affidavit, must...

Section 19-3-22 - Hearing; Order. - On the day appointed, or on any other day to...

Section 19-3-23 - Failure of Trustee to Give Bond; Appointment of Successor. - If the trustee fails for five days from and after...

Section 19-3-24 - Duty of Trustee to Make Inventory; Filing of Copies; Supplemental Inventories. - It is the duty of the trustee of an express...

Section 19-3-25 - Appointment and Duties of Appraisers. - On the filing of such inventory, the register or clerk...

Section 19-3-26 - When Petition for Administration May Be Filed; Contents of Petition. - If the value of the trust estate, as appraised by...

Section 19-3-27 - Submission of Petition to Circuit Judge; Order Designating Time for Presenting Claims. - Upon the filing of such petition the register or clerk...

Section 19-3-28 - Notice to Creditors. - Upon the making of such order the register or clerk...

Section 19-3-29 - Presentation of Claims; Verification; Receipt. - All claims against the trust estate must be presented by...

Section 19-3-30 - Claims Docket. - The register or clerk must keep a docket in which...

Section 19-3-31 - Claims Presented and Not Objected to Stand Allowed. - All claims to which no objection is made in the...

Section 19-3-32 - Objections to Claims - Filing of Objections. - At any time within three months after the expiration of...

Section 19-3-33 - Objections to Claims - Time for Hearing; Notice. - Within 30 days after the expiration of the time allowed...

Section 19-3-34 - Objections to Claims - Conduct of Hearing; Order Allowing or Disallowing Claim. - On the day appointed for the hearing, or any day...

Section 19-3-35 - Duty of Trustee to Render Account. - Within three months after the expiration of the time allowed...

Section 19-3-36 - Time for Settlement; Notice to Creditors. - Upon the filing of such account the register or clerk...

Section 19-3-37 - Examination and Auditing of Account; Judgment. - Upon the day so appointed, or any day to which...

Section 19-3-38 - Admissibility of Evidence at Hearings; Exceptions; Appeals. - Upon a hearing before the register or clerk under any...

Section 19-3-39 - Compromise or Sale of Bad Debts. - Upon the application of the trustee, the court may authorize...

Section 19-3-40 - Sale of Real Estate; Notice to Creditors. - The trustee may make sale of any real estate or...

Section 19-3-41 - When Settlements Compelled; Removal of Trustee and Appointment of Successor. - If the trustee shall fail to make settlement, partial or...

Article 3 - Business Trusts.

Section 19-3-60 - Definition of "Business trust." - A business trust is an express trust created by a...

Section 19-3-61 - Establishment; Lawful Purposes. - A business trust may be established by a declaration of...

Section 19-3-62 - Powers and Liabilities of Trustees; Liability of Trust for Acts of Trustees. - The trustees shall hold the legal title to all property...

Section 19-3-63 - Certificates of Ownership; Liability of Beneficial Owners. - The beneficial ownership in a business trust shall be evidenced...

Section 19-3-64 - Contents and Recordation of Declaration of Trust. - The written declaration of trust may provide for the election...

Section 19-3-65 - Duration of Business Trust; Rules Against Perpetuities and Restraint of Alienation Not Violated. - A business trust shall not be deemed invalid as violating...

Section 19-3-66 - Suits Against Trust; Property Subject to Attachment and Execution. - A business trust may be sued for debts and other...

Section 19-3-67 - Taxation. - Repealed by Act 2006-114, p. 173, §5, effective for tax...

Article 4 - Fiduciary Funds in Hands of Officials.

Section 19-3-80 - "Fiduciary Funds" Defined. - "Fiduciary funds," as used in this article, shall include any...

Section 19-3-81 - Fiduciary Funds in Hands of Register, Probate Judge, Sheriff, and Clerk to Be Reported. - Every register, probate judge, sheriff, clerk and register shall prepare...

Section 19-3-82 - Filing of Reports of Clerk and Register. - The register and the clerk shall file the report with...

Section 19-3-83 - Filing of Sheriff's Report. - The sheriff shall file, at the first session held after...

Section 19-3-84 - Reports to Be Open to Public. - The judge of such court shall carefully examine said report...

Section 19-3-85 - Filing and Recordation of Probate Judge's Report. - The probate judge shall file such statement in his court...

Section 19-3-86 - Enforcement. - The judges of courts of record in this state, at...

Section 19-3-87 - Unclaimed Funds. - If at any time it should appear to the court,...

Article 5 - Liability of Trust Estate and Remedy for Enforcing. Repealed.

Section 19-3-100 - When Trust Estate May Become Liable. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-101 - Petition to Enforce Liability - Filing; Substitution of Parties. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-102 - Petition to Enforce Liability - Judgment Charging Estate. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-103 - Petition to Enforce Liability - Pending Action for Administration. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-104 - Petition to Enforce Liability - Charging Real Property. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-105 - Misapplication of Assets. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-106 - Tracing Misapplied Assets. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-107 - Framing Relief So as to Render Trust Effectual. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Article 6 - Investment of Trust Estate.

Section 19-3-120 - Classes of Authorized Investments; Repeal of Conflicting Statutes. - (a) Unless otherwise authorized or directed by the court having...

Section 19-3-120.1 - Investments in Common Trusts, Collective Investment Funds, and Interests of Investment Companies and Trusts. - In addition to the investments authorized by Section 19-3-120, by...

Section 19-3-120.2 - Standards for Fiduciary Investment and Management. - (a) When investing, reinvesting, purchasing, acquiring, exchanging, selling and managing...

Section 19-3-121 - Interest-Bearing Warrants. - A trustee, executor, administrator, guardian or one acting in any...

Section 19-3-122 - Securities Issued or Insured by Secretary of Housing and Urban Development. - It shall be lawful for trustees, executors, administrators, guardians and...

Section 19-3-123 - Mortgages Insured by Secretary of Housing and Urban Development - Investment. - It shall be lawful for trustees, executors, administrators, guardians and...

Section 19-3-124 - Mortgages Insured by Secretary of Housing and Urban Development - Sale, Etc. - It shall be lawful for trustees, executors, administrators, guardians and...

Section 19-3-125 - Life, Endowment, or Annuity Contracts. - In addition to any other investment now permitted by law,...

Section 19-3-126 - Tax Anticipation Bonds, etc., of Certain Counties. - Unless otherwise directed by the court having jurisdiction thereof, or...

Section 19-3-127 - Bonds of Tennessee Valley Authority. - Bonds issued by the Tennessee Valley Authority under the provisions...

Section 19-3-128 - Debts Incurred Under National Housing Act and Under Acts of Congress Relating to Veterans' Benefits. - All debts or extensions of credit incurred pursuant to any...

Section 19-3-129 - General Rules of Law Govern Trustee's Liability. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-130 - Investment Outside State. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-131 - Petition to Obtain Authority; Notice. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-132 - Judgment on Hearing. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Article 7 - Participation in Partnerships.

Section 19-3-150 - "Fiduciary" Defined. - As used in this article, the term "fiduciary" means the...

Section 19-3-151 - Right of Fiduciary to Participate in Partnership; Liability of Fiduciary, Estate and Beneficial Owners. - If permitted by the trust instrument or will under which...

Section 19-3-152 - Power of Fiduciary to Limit Liability of Estate or Himself. - Nothing in this article shall be construed to prohibit a...

Article 8 - Partition or Sale of Real or Personal Property.

Section 19-3-170 - Partition of Freehold Devised With Contingent Interest. - When any deceased tenant in common, joint tenant or coparcener...

Section 19-3-171 - Sale of Land Held Under Trust Deed. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-172 - Sale of Land Devised and Held in Trust. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-173 - Investment of Proceeds of Sale. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Article 9 - Removal of Trust Estate to Another State.

Section 19-3-190 - Power of Circuit Court to Authorize Removal of Trust Estate. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-191 - Petition to Obtain Removal; Notice. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-192 - Judgment on Hearing. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Article 10 - Appointment, Resignation and Removal of Trustees.

Division 1 - General Provisions.

Section 19-3-210 - Resignation. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-211 - Removal - Grounds. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-212 - Removal - Appointment of Successor. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Division 2 - Removal of Trust Estate From Another State.

Section 19-3-230 - Application to Appoint Trustee. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-231 - Notice of Hearing. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-232 - Appointment of Trustee. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-233 - Bond. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-234 - Fees of Register or Clerk. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Article 11 - Succession or Appointment of New Trustees.

Section 19-3-250 - Power of Circuit Court to Fill Vacancy. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-251 - When Circuit Court Must Appoint New Trustee; Number of New Trustees. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-252 - Survivorship Between Cotrustees. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-253 - Representative of Deceased Sole Trustee to Settle With Succeeding Trustee. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Article 12 - Principal and Income. Repealed.

Section 19-3-270 - Definitions. - Repealed by Act 2000-675, § 2, and Act 2001-344, §...

Section 19-3-271 - Applicability of Article; Powers of Settlor. - Repealed by Act 2000-675, § 2, and Act 2001-344, §...

Section 19-3-272 - Income and Principal; Disposition. - Repealed by Act 2000-675, § 2, and Act 2001-344, §...

Section 19-3-273 - Apportionment of Income. - Repealed by Act 2000-675, § 2, and Act 2001-344, §...

Section 19-3-274 - Corporate Dividends and Share Rights. - Repealed by Act 2000-675, § 2, and Act 2001-344, §...

Section 19-3-275 - Premium and Discount Obligations. - Repealed by Act 2000-675, § 2, and Act 2001-344, §...

Section 19-3-276 - Principal Used in Business. - Repealed by Act 2000-675, § 2, and Act 2001-344, §...

Section 19-3-277 - Principal Comprising Animals. - Repealed by Act 2000-675, § 2, and Act 2001-344, §...

Section 19-3-278 - Disposition of Natural Resources. - Repealed by Act 2000-675, § 2, and Act 2001-344, §...

Section 19-3-279 - Principal Subject to Depletion. - Repealed by Act 2000-675, § 2, and Act 2001-344, §...

Section 19-3-280 - Unproductive Estate. - Repealed by Act 2000-675, § 2, and Act 2001-344, §...

Section 19-3-281 - Expenses - Trust Estates. - Repealed by Act 2000-675, § 2, and Act 2001-344, §...

Section 19-3-282 - Expenses - Nontrust Estates. - Repealed by Act 2000-675, § 2, and Act 2001-344, §...

Article 13 - Private Foundations, Charitable Trusts, and Split-Interest Trusts.

Section 19-3-300 - Trustee Not to Engage in Certain Acts Subjecting Trust to Federal Taxation. - Notwithstanding any provision to the contrary in the governing instrument...

Section 19-3-301 - Power to Amend Trust Instrument. - (a) The trustee of a trust, whenever created, which is...

Section 19-3-302 - Rights and Powers of Courts and Attorney General Not Impaired. - Nothing in this article shall impair the rights and powers...

Section 19-3-303 - Future Provisions of Federal Internal Revenue Laws Included. - All references to sections of the Internal Revenue Code of...

Article 14 - Actions of Trustees of Express Trusts. Repealed.

Section 19-3-320 - Definitions. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-321 - Trustee Allowed to Perform Prudent Person Actions Without Prior Court Authorization. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-322 - Powers of Trustee. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-323 - Termination of Small Trusts Where Continued Administration Too Costly; Actions by Trustee to Carry Out Trust Purpose. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-324 - Actions Trustee Who Is Also Beneficiary May Not Perform; Powers of Person Who Has Right to Remove Trustee; Parties in Interest. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-325 - Concurrence of All Co-Trustees Required. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-326 - Payment Out of Trust Estate of Expenses of Trustee in Defending or Prosecuting Proceedings in Good Faith. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-327 - Applicability of Article. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Section 19-3-328 - Construction of Article. - Repealed by Act 2006-216, p. 314, §5, effective January 1,...

Chapter 3A - Alabama Principal and Income Act.

Article 1 - Definitions and Fiduciary Duties.

Section 19-3A-101 - Short Title. - This chapter shall be known and may be cited as...

Section 19-3A-102 - Definitions. - As used in this chapter, the following terms are defined...

Section 19-3A-103 - Fiduciary Duties; General Principles. - (a) In allocating receipts and disbursements to or between principal...

Section 19-3A-104 - Trustee's Power to Adjust. - (a) If the terms of the trust expressly provide by...

Section 19-3A-105 - Express Unitrusts. - Except to the extent otherwise provided in the governing instrument,...

Section 19-3A-106 - Conversion to Unitrust. - (a) Unless expressly prohibited by the governing instrument, a trustee...

Article 2 - Decedent's Estate or Terminating Income Interest.

Section 19-3A-201 - Determination and Distribution of Net Income. - After the decedent's death, in the case of a decedent's...

Section 19-3A-202 - Distribution to Residuary and Remainder Beneficiaries. - (a) Each beneficiary described in Section 19-3A-201(d) is entitled to...

Article 3 - Apportionment at Beginning and End of Income Interest.

Section 19-3A-301 - When Right to Income Begins and Ends. - (a) An income beneficiary is entitled to net income from...

Section 19-3A-302 - Apportionment of Receipts and Disbursements Upon Decedent's Death or When Income Interest Begins. - (a) A fiduciary shall allocate an income receipt or disbursement,...

Section 19-3A-303 - Apportionment When Income Interest Ends. - (a) For the purposes of this section, "undistributed income" means...

Article 4 - Allocation of Receipts During Administration.

Section 19-3A-401 - Character of Receipts. - (a) For purposes of this section, "entity" means a corporation,...

Section 19-3A-402 - Distributions From Trust or Decedent's Estate. - A fiduciary shall allocate to income an amount received as...

Section 19-3A-403 - Business and Other Activities Conducted by Fiduciary. - (a) If a fiduciary who conducts a business or other...

Section 19-3A-404 - Principal Receipts. - A fiduciary shall allocate to principal: (1) To the extent...

Section 19-3A-405 - Rental Property. - To the extent the fiduciary does not account for receipts...

Section 19-3A-406 - Bonds and Other Obligations. - (a) An amount received as interest, whether determined at a...

Section 19-3A-407 - Insurance Policies and Similar Contracts. - (a) Except as otherwise provided in subsection (b), a fiduciary...

Section 19-3A-408 - Insubstantial Allocations Not Required. - (a) If a fiduciary determines that an allocation between principal...

Section 19-3A-409 - Deferred Compensation, Annuities, and Similar Payments. - (a) In this section: (1) "Payment" means a payment that...

Section 19-3A-410 - Liquidating Assets. - (a) In this section, "liquidating asset" means an asset whose...

Section 19-3A-411 - Minerals, Water, and Other Natural Resources. - (a) To the extent that a fiduciary accounts for receipts...

Section 19-3A-412 - Timber. - (a) To the extent that a fiduciary accounts for receipts...

Section 19-3A-413 - Property Not Productive of Income. - (a) If a marital deduction is allowed for all or...

Section 19-3A-415 - Asset-Backed Securities. - (a) In this section, "asset-backed security" means an asset whose...

Section 19-3A-414 - Derivative Instruments and Options. - (a) In this section, "derivative instrument" means a contract, a...

Article 5 - Allocation of Disbursements During Administration of Trust or Decendent's Estate.

Section 19-3A-501 - Disbursements From Income. - A trustee shall make the following disbursements from income to...

Section 19-3A-502 - Disbursements From Principal. - (a) A trustee shall make the following disbursements from principal:...

Section 19-3A-503 - Transfers From Income to Principal for Depreciation. - (a) In this section, "depreciation" means a reduction in value...

Section 19-3A-504 - Transfers From Income to Reimburse Principal. - (a) If a fiduciary makes or expects to make a...

Section 19-3A-505 - Income Taxes. - (a) A tax required to be paid by a fiduciary...

Section 19-3A-506 - Adjustments Between Principal and Income Because of Taxes. - (a) A fiduciary may make adjustments between principal and income...

Article 6 - Miscellaneous Provisions.

Section 19-3A-601 - Uniformity of Application and Construction. - In applying and construing this uniform act, consideration shall be...

Section 19-3A-602 - Severability Clause. - If any provision of this chapter or its application to...

Section 19-3A-603 - Effective Date. - This chapter shall become effective on January 1, 2001, and...

Section 19-3A-604 - Application to Existing Trusts and Estates. - This chapter shall become applicable on January 1, 2001, to...

Section 19-3A-605 - Consent of Beneficiaries. - A fiduciary may at any time obtain the written consent...

Section 19-3A-606 - Applicability to Tenant and Remainder Interests. - This chapter shall govern the ascertainment of income and principal,...

Section 19-3A-607 - Applicability of Section 19-3a-409. - Section 19-3A-409, as amended by Act 2012-550, applies to a...

Section 19-3A-608 - Application of Alabama Uniform Trust Code. - The provisions of the Alabama Uniform Trust Code apply to...

Chapter 3B - Alabama Uniform Trust Code.

Section 19-3B-101 - Short Title. - This chapter may be cited as the Alabama Uniform Trust...

Section 19-3B-102 - Scope. - This chapter applies to express trusts, charitable or noncharitable, and...

Section 19-3B-103 - Definitions. - In this chapter: (1) ACTION, with respect to an act...

Section 19-3B-104 - Knowledge. - (a) Subject to subsection (b), a person has knowledge of...

Section 19-3B-105 - Default and Mandatory Rules. - (a) Except as otherwise provided in the terms of the...

Section 19-3B-106 - Common Law of Trusts; Principles of Equity. - The common law of trusts and principles of equity supplement...

Section 19-3B-107 - Governing Law. - The meaning and effect of the terms of a trust...

Section 19-3B-108 - Principal Place of Administration. - (a) Without precluding other means for establishing a sufficient connection...

Section 19-3B-109 - Methods and Waiver of Notice. - (a) Notice to a person under this chapter or the...

Section 19-3B-110 - Others Treated as Qualified Beneficiaries. - (a) Whenever notice to qualified beneficiaries of a trust is...

Section 19-3B-111 - Nonjudicial Settlement Agreements. - (a) For purposes of this section, "interested persons" means persons...

Section 19-3B-112 - Rules of Construction. - Except as otherwise provided in this chapter, the rules of...

Section 19-3B-201 - Role of Court in Administration of Trust. - (a) The court may intervene in the administration of a...

Section 19-3B-202 - Jurisdiction Over Trustee and Beneficiary. - (a) A trustee submits personally to the jurisdiction of the...

Section 19-3B-203 - Subject Matter Jurisdiction. - (a) Except as provided in subsection (b), the circuit court...

Section 19-3B-204 - Venue. - (a) Except as otherwise provided in subsection (b), venue for...

Section 19-3B-205 - Judicial Accountings and Settlements. - (a) A trustee may file an accounting of the trustee's...

Section 19-3B-301 - Representation: Basic Effect. - (a) Notice to a person who may represent and bind...

Section 19-3B-302 - Representation by Holder of Power of Appointment. - (a) The holder of a lifetime power to appoint to...

Section 19-3B-303 - Representation by Fiduciaries and Ancestors. - To the extent there is no conflict of interest between...

Section 19-3B-304 - Representation by Person Having Substantially Identical Interest. - (a) Unless otherwise represented, a minor, incapacitated, or unborn individual,...

Section 19-3B-305 - Appointment of Representative. - (a) If the court determines that an interest is not...

Section 19-3B-401 - Methods of Creating Trust. - A trust may be created by: (1) transfer of property...

Section 19-3B-402 - Requirements for Creation. - (a) A trust is created only if: (1) the settlor...

Section 19-3B-403 - Trusts Created in Other Jurisdictions. - A trust not created by will is validly created if...

Section 19-3B-404 - Trust Purposes. - A trust may be created only to the extent its...

Section 19-3B-405 - Charitable Purposes; Enforcement. - (a) A charitable trust may be created for the relief...

Section 19-3B-406 - Creation of Trust Induced by Fraud, Duress, or Undue Influence. - A trust is void to the extent its creation was...

Section 19-3B-407 - Evidence of Oral Trust. - Except as required by a statute other than this chapter,...

Section 19-3B-408 - Trust for Care of Animal. - (a) A trust may be created to provide for the...

Section 19-3B-409 - Noncharitable Trust Without Ascertainable Beneficiary. - Except as otherwise provided in Section 19-3B-408 or by another...

Section 19-3B-410 - Modification or Termination of Trust; Proceedings for Approval or Disapproval. - (a) In addition to the methods of termination prescribed by...

Section 19-3B-411 - Modification or Termination of Noncharitable Irrevocable Trust by Consent. - (a) If, upon petition, the court finds that the settlor...

Section 19-3B-412 - Modification or Termination Because of Unanticipated Circumstances or Inability to Administer Trust Effectively. - (a) The court may modify the administrative or dispositive terms...

Section 19-3B-413 - Cy Pres. - (a) Except as otherwise provided in subsection (b), if a...

Section 19-3B-414 - Modification or Termination of Uneconomic Trust. - (a) After notice to the qualified beneficiaries, the trustee of...

Section 19-3B-415 - Reformation to Correct Mistakes. - The court may reform the terms of a trust, even...

Section 19-3B-416 - Modification to Achieve Settlor's Tax Objectives. - To achieve the settlor's tax objectives, the court may modify...

Section 19-3B-417 - Combination and Division of Trusts. - After notice to the qualified beneficiaries, a trustee may combine...

Section 19-3B-501 - Rights of Beneficiary's Creditor or Assignee. - To the extent a beneficiary's interest is not subject to...

Section 19-3B-502 - Spendthrift Provision. - (a) A spendthrift provision is valid only if it restrains...

Section 19-3B-503 - Exceptions to Spendthrift Provision. - (a) In this section, "child" includes any person for whom...

Section 19-3B-504 - Discretionary Trusts; Effect of Standard. - (a) In this section, the terms "child", "spouse", or "former...

Section 19-3B-505 - Creditor's Claim Against Settlor. - (a) Whether or not the terms of a trust contain...

Section 19-3B-506 - Overdue Distribution. - (a) In this section, "mandatory distribution" means a distribution of...

Section 19-3B-507 - Personal Obligations of Trustee. - Trust property is not subject to personal obligations of the...

Section 19-3B-508 - Qualified Trusts Under the Internal Revenue Code. - (a) As used in this section: (1) ASSIGNMENT or ALIENATION,...

Section 19-3B-601 - Capacity of Settlor of Revocable Trust. - The capacity required to create, amend, revoke, or add property...

Section 19-3B-602 - Revocation or Amendment of Revocable Trust. - (a) Unless the terms of a trust expressly provide that...

Section 19-3B-603 - Settlor's Powers; Powers of Withdrawal. - (a) While a trust is revocable, rights of the beneficiaries...

Section 19-3B-604 - Limitation on Action Contesting Validity of Revocable Trust; Distribution of Trust Property. - (a) A person may commence a judicial proceeding to contest...

Section 19-3B-701 - Accepting or Declining Trusteeship. - (a) Except as otherwise provided in subsection (c), a person...

Section 19-3B-702 - Trustee's Bond. - (a) A trustee shall give bond to secure performance of...

Section 19-3B-703 - Co-Trustees. - (a) Co-trustees who are unable to reach a unanimous decision...

Section 19-3B-704 - Vacancy in Trusteeship; Appointment of Successor. - (a) A vacancy in a trusteeship occurs if: (1) a...

Section 19-3B-705 - Resignation of Trustee. - (a) A trustee may resign: (1) upon at least 30...

Section 19-3B-706 - Removal of Trustee. - (a) The settlor, a co-trustee, or a beneficiary may request...

Section 19-3B-707 - Delivery of Property by Former Trustee. - (a) Unless a co-trustee remains in office or the court...

Section 19-3B-708 - Compensation of Trustee. - (a) If the terms of a trust do not specify...

Section 19-3B-709 - Reimbursement of Expenses. - (a) A trustee is entitled to be reimbursed out of...

Section 19-3B-801 - Duty to Administer Trust. - Upon acceptance of a trusteeship, the trustee shall administer the...

Section 19-3B-802 - Duty of Loyalty. - (a) A trustee shall administer the trust solely in the...

Section 19-3B-803 - Impartiality. - If a trust has two or more beneficiaries, then the...

Section 19-3B-804 - Prudent Administration. - A trustee shall administer the trust as a prudent person...

Section 19-3B-805 - Costs of Administration. - In administering a trust, the trustee may incur costs that...

Section 19-3B-806 - Trustee's Skills. - A trustee who has special skills or expertise, or is...

Section 19-3B-807 - Delegation by Trustee. - (a) A trustee may delegate duties and powers that a...

Section 19-3B-808 - Powers to Direct. - (a) While a trust is revocable, the trustee may follow...

Section 19-3B-809 - Control and Protection of Trust Property. - A trustee shall take reasonable steps to take control of...

Section 19-3B-810 - Recordkeeping and Identification of Trust Property. - (a) A trustee shall keep adequate records of the administration...

Section 19-3B-811 - Enforcement and Defense of Claims. - A trustee shall take reasonable steps to enforce claims of...

Section 19-3B-812 - Collecting Trust Property. - A trustee shall take reasonable steps to compel a former...

Section 19-3B-813 - Duty to Inform and Report. - (a) Except as otherwise provided in Section 19-3B-603, the following...

Section 19-3B-814 - Discretionary Powers; Tax Savings. - (a) Notwithstanding the breadth of discretion granted to a trustee...

Section 19-3B-815 - General Powers of Trustee. - (a) A trustee, without authorization by the court, may exercise:...

Section 19-3B-816 - Specific Powers of Trustee. - (a) Without limiting the authority conferred by Section 19-3B-815, a...

Section 19-3B-817 - Distribution Upon Termination. - (a) Upon termination or partial termination of a trust, the...

Section 19-3B-818 - Life Insurance Policies Held by Trustee. - A trustee may retain any life insurance policy contributed to...

Section 19-3B-901 - Prudent Investor Rule. - (a) Except as otherwise provided in subsection (b), a trustee...

Section 19-3B-902 - Standard of Care; Portfolio Strategy; Risk and Return Objectives. - (a) A trustee shall invest and manage trust assets as...

Section 19-3B-903 - Diversification. - (a) A trustee shall diversify the investments of the trust...

Section 19-3B-904 - Duties at Inception of Trusteeship. - Within a reasonable time after accepting a trusteeship or receiving...

Section 19-3B-905 - Reviewing Compliance. - Compliance with the prudent investor rule is determined in light...

Section 19-3B-906 - Language Invoking Standard of Prudent Investor Rule. - The following terms or comparable language in the terms of...

Section 19-3B-1001 - Remedies for Breach of Trust. - (a) A violation by a trustee of a duty the...

Section 19-3B-1002 - Damages for Breach of Trust. - (a) A trustee who commits a breach of trust is...

Section 19-3B-1003 - Damages in Absence of Breach. - (a) A trustee is accountable to an affected beneficiary for...

Section 19-3B-1005 - Limitation of Action Against Trustee. - (a) A beneficiary may not commence a proceeding against a...

Section 19-3B-1006 - Reliance on Trust Instrument. - A trustee who acts in reasonable reliance on the terms...

Section 19-3B-1007 - Event Affecting Administration or Distribution. - If the happening of an event, including marriage, divorce, performance...

Section 19-3B-1008 - Exculpation of Trustee. - (a) A term of a trust relieving a trustee of...

Section 19-3B-1009 - Beneficiary's Consent, Release, or Ratification. - A trustee is not liable to a beneficiary for breach...

Section 19-3B-1010 - Limitation on Personal Liability of Trustee. - (a) Except as otherwise provided in the contract, a trustee...

Section 19-3B-1011 - Interest as General Partner. - (a) Except as otherwise provided in subsection (c) or unless...

Section 19-3B-1012 - Protection of Person Dealing With Trustee. - (a) A person other than a beneficiary who in good...

Section 19-3B-1013 - Certification of Trust. - (a) Instead of furnishing a copy of the trust instrument...

Section 19-3B-1101 - Protection of Special Needs Trusts and Other Similar Trusts for Disabled Persons. - Notwithstanding the provisions of this chapter that may otherwise be...

Section 19-3B-1201 - Uniformity of Application and Construction. - In applying and construing this uniform act, consideration must be...

Section 19-3B-1202 - Electronic Records and Signatures. - The provisions of this chapter governing the legal effect, validity,...

Section 19-3B-1203 - Severability Clause. - If any provision of this chapter or its application to...

Section 19-3B-1204 - Application to Existing Relationships. - (a) Except as otherwise provided in this chapter, on January...

Section 19-3B-1301 - Trust Concerning Lands Required to Be in Writing. - No trust concerning lands, except such as results by implication...

Section 19-3B-1302 - Trust Void as to Creditors or Purchasers Without Notice. - No such trusts, whether implied by law or created or...

Section 19-3B-1303 - Trust Estate Not Descendible Upon Death of Trustee. - Upon the death of a sole or surviving trustee of...

Section 19-3B-1304 - Trusts for Employees or Self-Employed Persons. - (a) A trust of real or personal property or real...

Section 19-3B-1305 - Trusts Consisting of Insurance Policies or Proceeds. - Trusts consisting solely of policies of life, health, accident, or...

Section 19-3B-1306 - Procedures for Release of Trustee From Duties. - (a) A trustee may obtain a settlement of its accounts...

Chapter 3C - Alabama Uniform Prudent Management of Industrial Funds Act.

Section 19-3C-1 - Short Title. - This chapter may be cited as the Alabama Uniform Prudent...

Section 19-3C-2 - Definitions. - In this chapter: (1) CHARITABLE PURPOSE means the relief of...

Section 19-3C-3 - Standard of Conduct in Managing and Investing Institutional Funds. - (a) Subject to the intent of a donor expressed in...

Section 19-3C-4 - Appropriation for Expenditure or Accumulation of Endowment Fund; Rules of Construction. - (a) Subject to the intent of a donor expressed in...

Section 19-3C-5 - Delegation of Management and Investment Functions. - (a) Subject to any specific limitation set forth in a...

Section 19-3C-6 - Release or Modification of Restrictions on Management, Investment, or Purpose. - (a) If the donor consents in a record, an institution...

Section 19-3C-7 - Reviewing Compliance. - Compliance with this chapter is determined in light of the...

Section 19-3C-8 - Application to Existing Institutional Funds. - This chapter applies to institutional funds existing on or established...

Section 19-3C-9 - Relation to Electronic Signatures in Global and National Commerce Act. - This chapter modifies, limits, and supersedes the Electronic Signatures in...

Section 19-3C-10 - Uniformity of Application and Construction. - In applying and construing this uniform act, consideration must be...

Chapter 3D - Alabama Uniform Trust Decanting Act.

Section 19-3D-1 - Short Title. - SHORT TITLE. This chapter may be cited as the Alabama...

Section 19-3D-2 - Definitions. - DEFINITIONS. In this chapter the following terms have the following...

Section 19-3D-3 - Scope. - SCOPE. (a) Except as otherwise provided in subsections (b) and...

Section 19-3D-4 - Fiduciary Duty. - FIDUCIARY DUTY. (a) In exercising the decanting power, an authorized...

Section 19-3D-5 - Application; Governing Law. - This chapter applies to a trust created before, on, or...

Section 19-3D-6 - Reasonable Reliance. - REASONABLE RELIANCE. A trustee or other person that reasonably relies...

Section 19-3D-7 - Notice; Exercise of Decanting Power. - (a) In this section, a notice period begins on the...

Section 19-3D-8 - Representation. - REPRESENTATION. (a) Notice to a person with authority to represent...

Section 19-3D-9 - Court Involvement. - (a) On application of an authorized fiduciary, a person entitled...

Section 19-3D-10 - Formalities. - FORMALITIES. An exercise of the decanting power must be made...

Section 19-3D-11 - Decanting Power Under Expanded Distributive Dicretion. - (a) In this section the following terms have the following...

Section 19-3D-12 - Decanting Power Under Limited Distributive Discretion. - DECANTING POWER UNDER LIMITED DISTRIBUTIVE DISCRETION. (a) In this section,...

Section 19-3D-13 - Trust for Beneficiary With Disability. - TRUST FOR BENEFICIARY WITH DISABILITY. (a) In this section the...

Section 19-3D-14 - Protection of Charitable Interest. - PROTECTION OF CHARITABLE INTEREST. (a) In this section the following...

Section 19-3D-15 - Trust Limitation on Decanting. - TRUST LIMITATION ON DECANTING. (a) An authorized fiduciary may not...

Section 19-3D-16 - Change in Compensation. - (a) If a first-trust instrument specifies an authorized fiduciary's compensation,...

Section 19-3D-17 - Relief From Liability and Indemnification. - RELIEF FROM LIABILITY AND INDEMNIFICATION. (a) Except as otherwise provided...

Section 19-3D-18 - Removal or Replacement of Authorized Fiduciary. - REMOVAL OR REPLACEMENT OF AUTHORIZED FIDUCIARY. An authorized fiduciary may...

Section 19-3D-19 - Tax-Related Limitations. - TAX-RELATED LIMITATIONS. (a) In this section the following terms have...

Section 19-3D-20 - Duration of Second Trust. - DURATION OF SECOND TRUST. (a) Subject to subsection (b), a...

Section 19-3D-21 - Need to Distribute Not Required. - NEED TO DISTRIBUTE NOT REQUIRED. An authorized fiduciary may exercise...

Section 19-3D-22 - Saving Provision. - SAVING PROVISION. (a) If exercise of the decanting power would...

Section 19-3D-23 - Trust for Care of Animal. - TRUST FOR CARE OF ANIMAL. (a) In this section the...

Section 19-3D-24 - Terms of Second Trust. - TERMS OF SECOND TRUST. A reference in Chapter 3B (commencing...

Section 19-3D-25 - Settlor. - SETTLOR. (a) For purposes of laws of this state other...

Section 19-3D-26 - Later-Discovered Property. - LATER-DISCOVERED PROPERTY. (a) Except as otherwise provided in subsection (c),...

Section 19-3D-27 - Obligations. - OBLIGATIONS. A debt, liability, or other obligation enforceable against property...

Section 19-3D-28 - Uniformity of Application and Construction. - UNIFORMITY OF APPLICATION AND CONSTRUCTION. In applying and construing this...

Section 19-3D-29 - Relation to Electronic Signatures in Global and National Commerce Act. - RELATION TO ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT....

Chapter 3E - Alabama Qualified Dispositions in Trust Act.

Section 19-3E-1 - Short Title. - This chapter shall be known and may be cited as...

Section 19-3E-2 - Definitions. - As used in this chapter, the following terms shall have...

Section 19-3E-3 - Jurisdiction and Venue. - (a) Except as provided in subsection (b), the circuit court...

Section 19-3E-4 - Permitted Trust Powers of Transferor. - (a) A transferor has only the powers and rights that...

Section 19-3E-5 - Right of Action of Creditor With Respect to a Qualified Disposition. - (a) Notwithstanding any other provision of this chapter, with respect...

Section 19-3E-6 - Qualified Affidavit. - (a) Except as provided in subsection (f), for purposes of...

Section 19-3E-7 - Rights of Trustee and Beneficiary in Regard to an Avoided Qualified Disposition. - (a) A qualified disposition may be avoided only to the...

Section 19-3E-8 - Cessation of a Qualified Trustee and Successor. - (a)(1) If a person serving as a qualified trustee ceases...

Section 19-3E-9 - Rights of Creditor of Trust Beneficiary in a Trust or a Portion of a Trust That Is a Qualified Distribution. - (a) A trust beneficiary does not have the power or...

Section 19-3E-10 - Application; Relation to Other Laws. - (a) Subject to subsection (e) of Section 19-3E-5, this chapter...

Section 19-3E-11 - Chapter Supplemented by Principles of Law and Equity. - Unless otherwise displaced by the provisions of this chapter, the...

Chapter 4 - Securities Held by Fiduciaries.

Article 1 - Deposit in Clearing Corporations.

Section 19-4-1 - Definitions. - When used in this article, the following words and phrases...

Section 19-4-2 - Deposit of Securities Authorized; Merger, etc., of Certificates Representing Securities; Transfer of Ownership, etc., of Securities; Maintenance of Records by Fiduciary; Rules and Regulations Governing Banks Acting as Fiduciaries; Ce... - (a) Notwithstanding any other provision of law to the contrary,...

Section 19-4-3 - Applicability of Provisions of Article. - This article shall apply to all fiduciary accounts now in...

Article 2 - Banks Holding Securities in Bulk.

Section 19-4-20 - Definitions. - When used in this article, the following words and phrases...

Section 19-4-21 - Holding in Bulk of Securities Constituting Assets of Different Fiduciary Accounts Authorized; Registration of Securities; Maintenance of Records as to Fiduciary Accounts; Rules and Regulations Governing Banks; Certification of Secur... - (a) Notwithstanding any other provision of law to the contrary,...

Section 19-4-22 - Applicability of Provisions of Article. - This article shall apply to all fiduciary accounts now in...

Article 3 - Banks Holding Treasury Securities.

Section 19-4-40 - Definitions. - When used in this article, the following words and phrases...

Section 19-4-41 - Deposit of Treasury Securities in Federal Reserve Banks Authorized; Transfer of Ownership, etc., of Securities; Maintenance of Records as to Fiduciary Accounts; Rules and Regulations Governing Banks; Certification of Securities Depo... - (a) Notwithstanding any other provision of law to the contrary,...

Section 19-4-42 - Applicability of Provisions of Article. - This article shall apply to all fiduciary accounts now in...

Chapter 4A - Idle Funds in Fiduciary Accounts.

Section 19-4A-1 - Idle Funds Defined. - Idle funds are defined as collected income and principal cash...

Section 19-4A-2 - Investment in Accordance With Terms of Governing Document. - A bank or trust company duly authorized to exercise fiduciary...

Section 19-4A-3 - Short-Term Investment Vehicle. - In the absence of specific instructions in the governing document,...

Section 19-4A-4 - Reasonable Rate of Return; Considerations. - In the absence of specific instructions in the governing document,...

Section 19-4A-5 - Investment in Timely Manner; No Obligation to Invest Funds Less Than $1,000. - In the absence of specific instructions in the governing document,...

Section 19-4A-6 - Compensation. - In the absence of specific instructions in the governing document,...

Section 19-4A-7 - Applicability. - The provisions of this chapter shall apply to all fiduciary...

Chapter 5 - Preclusion or Minimization of Generation-Skipping Tax.

Section 19-5-1 - Definitions. - For purposes of this chapter unless the context otherwise requires,...

Section 19-5-2 - Allocation of GST Exemption. - Unless prohibited by the governing instrument, any person having authority...

Section 19-5-3 - Division of Trust to Which GST Exemption Allocated Into Separate Trusts for Exempt and Nonexempt Property. - When property is held or to be held in a...

Section 19-5-4 - Separate Trusts for Property Transferred, etc., From Another Trust in Order to Preclude or Minimize Gst. - If under the provisions of the governing instrument, property which...

Section 19-5-5 - Division of Trust With More Than One Beneficiary or Class Thereof for GST Purposes Into Separate Share Trusts to Effectuate Allocation of Grantor's, Decedent's, or Surviving Spouse's GST Exemption. - When a grantor or decedent transfers property into a trust...

Section 19-5-6 - Division of Qualified Terminable Interest Property Trust Into Separate Share Trusts to Effectuate Allocation of Grantor's, Decedent's, or Surviving Spouse's GST Exemption; Payment of Estate Taxes. - When a grantor or decedent transfers property into a trust...

Section 19-5-7 - Allocation of Distributions From Separate Trusts. - Distributions provided for by the governing instrument, whether the original...

Section 19-5-8 - Purpose of Chapter. - The purpose of this chapter is to authorize a fiduciary...

Section 19-5-9 - Exercise of Authority by Fiduciary. - A fiduciary may exercise the authority herein granted without prior...

Section 19-5-10 - Fiduciary Not Liable for Acts in Good Faith. - Any fiduciary who in good faith acts or fails to...

Section 19-5-11 - Applicability of Chapter. - This chapter applies to any trust or estate that may...

Section 19-5-12 - Chapter Effective as to Transfers in Trust, etc., on and After January 1, 1987. - This chapter shall be effective with respect to transfers in...

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Code of Alabama Title 19 - Fiduciaries and Trusts.

Code of Alabama
Title 19 - Fiduciaries and Trusts.