1. (1) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.

2. (2) Except as specifically provided in this chapter, the terms of a trust prevail over any provision of this chapter except:

   1. (a) the requirements for creating a trust;
   2. (b) subject to Sections 75B-3-109, 75B-3-111, and 75B-3-112, the duty of a trustee to act in good faith and in accordance with the purposes of the trust;
   3. (c) the requirement that a trust and the terms of the trust be for the benefit of the trust's beneficiaries;
   4. (d) the power of the court to modify or terminate a trust under Sections 75B-2-410 through 75B-2-416;
   5. (e) the effect of a spendthrift provision, an asset protection trust described in Chapter 1, Part 3, Asset Protection Trust, and the rights of certain creditors and assignees to reach a trust as provided in Part 5, Spendthrift and Discretionary Trusts;
   6. (f) the power of the court under Section 75B-2-702 to require, dispense with, or modify or terminate a bond;
   7. (g) the effect of an exculpatory term under Section 75B-2-1008;
   8. (h) the rights under Sections 75B-2-1010 through 75B-2-1013 of a person other than a trustee or beneficiary;
   9. (i) periods of limitation for commencing a judicial proceeding; and
   10. (j) the jurisdiction and venue requirements for an action involving a trust as described in Sections 75B-2-203 and 75B-2-205.

Renumbered and Amended by Chapter 310, 2025 General Session