Added by Stats. 2018, Ch. 407, Sec. 1. (SB 909) Effective January 1, 2019.
An authorized fiduciary may not exercise the decanting power to modify a provision in a first trust instrument granting another person power to remove or replace the fiduciary unless any of the following occurs:
(a)The person holding the power consents to the modification in a signed writing and the modification applies only to the person.
(b)The person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed writing and the modification grants a substantially similar power to another person.
(c)The court approves the modification and the modification grants a substantially similar
power to another person.
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