18-B §603. Settlor's powers; powers of withdrawal - Maine Statutes

Title 18-B: TRUSTS HEADING: PL 2003, C. 618, PT. A, §1 (NEW); §2 (AFF) EFFECTIVE 7/1/05

Part 1: MAINE UNIFORM TRUST CODE HEADING: PL 2003, C. 618, PT. A, §1 (NEW); §2 (AFF) EFFECTIVE 7/1/05

Chapter 6: REVOCABLE TRUSTS HEADING: PL 2003, C. 618, PT. A, §1 (NEW); §2 (AFF) EFFECTIVE 7/1/05

§603. Settlor's powers; powers of withdrawal

1. Revocable trust. While a trust is revocable, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor.

[ 2005, c. 184, §13 (AMD) .]

2. Rights of settlor of revocable trust. During the period the power may be exercised, the holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power.

[ 2003, c. 618, Pt. A, §1 (NEW); 2003, c. 618, Pt. A, §2 (AFF) .]

SECTION HISTORY

2003, c. 618, §A1 (NEW). 2003, c. 618, §A2 (AFF). 2005, c. 184, §13 (AMD).