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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 - Repealed by Act 2006-216, p. 314, §5, effective January 1,...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 - Repealed by Act 2006-216, p. 314, §5, effective January 1,...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 - Repealed by Act 2006-216, p. 314, §5, effective January 1,...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 - Repealed by Act 2006-216, p. 314, §5, effective January 1,...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 - Repealed by Act 2006-216, p. 314, §5, effective January 1,...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 - Repealed by Act 2006-216, p. 314, §5, effective January 1,...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 - Repealed by Act 2006-216, p. 314, §5, effective January 1,...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 - Repealed by Act 2006-216, p. 314, §5, effective January 1,...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 - Repealed by Act 2006-216, p. 314, §5, effective January 1,...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,...