72-38-110. Others treated as qualified beneficiaries. (1) Except for 72-38-813, whenever notice to qualified beneficiaries of a trust is required under this chapter, the trustee shall also give notice to any other beneficiary who has sent the trustee a request for notice.

(2) A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a beneficiary and a qualified beneficiary under this chapter if the charitable organization, on the date the charitable organization's qualification is being determined:

(a) is a distributee or permissible distributee of trust income or principal;

(b) would be a distributee or permissible distributee of trust income or principal upon the termination of the interests of other distributees or permissible distributees then receiving or eligible to receive distributions; or

(c) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.

(3) A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in 72-38-408 or 72-38-409 has the rights of a qualified beneficiary under this chapter.

(4) With respect to a charitable trust having its principal place of administration in this state:

(a) The attorney general of this state has the rights of a beneficiary.

(b) The attorney general of this state has the following two rights of a qualified beneficiary:

(i) the right to request information pursuant to 72-38-813(1); and

(ii) the right to request a copy of the annual report pursuant to 72-38-813(3).

(c) The attorney general of this state has all of the rights of a qualified beneficiary if, on the date that a determination is being made as to the rights of the attorney general under this subsection:

(i) any charitable organization:

(A) is a distributee or permissible distributee of trust income or principal; or

(B) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date; and

(ii) no charitable organization expressly designated to receive distributions under the terms of the charitable trust:

(A) is a distributee or permissible distributee of trust income or principal; or

(B) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.

History: En. Sec. 10, Ch. 264, L. 2013.