72-38-111. Nonjudicial settlement agreements. (1) For purposes of this section, "interested persons" means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.
(2) Except as otherwise provided in subsection (3), interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust.
(3) Except as provided in 72-38-411(1), a nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and includes terms and conditions that could be properly approved by the court under this chapter.
(4) Matters that may be resolved by a nonjudicial settlement agreement include but are not limited to:
(a) the interpretation or construction of the terms of the trust;
(b) the approval of a trustee's report or accounting;
(c) direction to a trustee to refrain from performing a particular act or the grant to a trustee of any necessary or desirable power;
(d) the resignation or appointment of a trustee and the determination of a trustee's compensation;
(e) transfer of a trust's principal place of administration; and
(f) liability of a trustee for an action relating to the trust.
(5) Any interested person may request the court to approve a nonjudicial settlement agreement, to determine whether the representation as provided in Title 72, chapter 38, part 3, was adequate, and to determine whether the agreement contains terms and conditions the court could have properly approved.
History: En. Sec. 11, Ch. 264, L. 2013; amd. Sec. 31, Ch. 55, L. 2015.
Structure Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 38. Montana Uniform Trust Code
72-38-105. Default and mandatory rules
72-38-106. Common law of trusts -- principles of equity
72-38-108. Principal place of administration
72-38-109. Methods and waiver of notice
72-38-110. Others treated as qualified beneficiaries
72-38-111. Nonjudicial settlement agreements
72-38-112. Rules of construction
72-38-113. Insurable interest of trustee
72-38-114. through 72-38-119 reserved
72-38-120. Resulting trust upon failure of trust
72-38-121. Resulting trust upon full performance of trust
72-38-122. Purchase money resulting trust
72-38-124. Resulting trusts -- constructive trusts -- statute of frauds
72-38-125. through 72-38-129 reserved
72-38-130. Scope and effect of part -- proposed action or inaction described
72-38-131. When use of notice authorized
72-38-133. Objection to proposed action or inaction -- petition -- liability of trustee