75-7-1201 - Foreign trustees. - Utah Statutes

75-7-1201. Foreign trustees.
(1) A foreign corporate trustee is required to qualify as a foreign corporation doingbusiness in this state if it maintains the principal place of administration of any trust within thestate.
(2) A foreign corporate cotrustee is not required to qualify in this state solely because itscotrustee maintains the principal place of administration in this state.
(3) Unless otherwise doing business in this state, local qualification by a foreigncorporate trustee is not required in order for the trustee to receive distribution from a local estateor to hold, invest in, manage, or acquire property located in this state, or maintain litigation if thestate of the principal place of business of the foreign corporate trustee provides substantiallysimilar provisions applicable to trustees from this state.
(4) Local qualification by a foreign trustee other than a corporation is not required inorder for the trustee to receive distribution from a local estate or to hold, invest in, manage, oracquire property located in this state or maintain litigation.
(5) Nothing in this section affects a determination of what other acts require qualificationas doing business in this state.

Enacted by Chapter 1, 2004 Special Session 4