Maine Revised Statutes
Chapter 12: MAINE UNIFORM TRUST DECANTING ACT
18-B §1203. Scope

§1203. Scope
1.  Express trust.  Except as otherwise provided in subsections 2 and 3, this Act applies to an express trust that is irrevocable or revocable by the settlor only with the consent of the trustee or a person holding an adverse interest.  
[PL 2021, c. 235, §1 (NEW).]
2.  Trust solely for charitable purposes.  This Act does not apply to a trust held solely for charitable purposes.  
[PL 2021, c. 235, §1 (NEW).]
3.  Restricted or prohibited decanting power.  Subject to section 1214, a trust instrument may restrict or prohibit exercise of the decanting power.  
[PL 2021, c. 235, §1 (NEW).]
4.  Power not limited.  This Act does not limit the power of a trustee, powerholder or other person to distribute or appoint property in further trust or to modify a trust under the trust instrument, a law of this State other than this Act, common law, a court order or a nonjudicial settlement agreement.  
[PL 2021, c. 235, §1 (NEW).]
5.  Ability of settlor.  This Act does not affect the ability of a settlor to provide in a trust instrument for the distribution of the trust property or appointment in further trust of the trust property or for modification of the trust instrument.  
[PL 2021, c. 235, §1 (NEW).]
SECTION HISTORY
PL 2021, c. 235, §1 (NEW).

Structure Maine Revised Statutes