The uniform trust decanting act applies to a trust created before, on, or after July 1, 2023, that:

1. (a) Has its principal place of administration in this state, including a trust whose principal place of administration has been changed to this state; or

2. (b) provides by its trust instrument that it is governed by the law of this state or is governed by the law of this state for the purpose of:

   1. (1) Administration, including administration of a trust whose governing law for purposes of administration has been changed to the law of this state;
   2. (2) construction of terms of the trust; or
   3. (3) determining the meaning or effect of terms of the trust.

L. 2023, ch. 48, § 5; July 1.