Governing State definition
Examples of Governing State in a sentence
These Universal Trust Provisions, the Trust Agreement, and each trust created thereunder, including any trust created pursuant to the exercise of a power of appointment granted by the Grantor in the Trust Agreement, shall be construed in accordance with the laws of the Governing State, unless specifically provided to the contrary in the Trust Agreement.
Estates and Trusts Laws shall mean the applicable laws of the Governing State that control and direct all matters related to ▇▇▇▇▇, estates, and trusts, including, but not limited to, their creation, validity, construction, administration, management, settlement and dissolution, as amended and in effect from time to time.
Step 27 – Select Governing State Choose the state’s laws that will govern the construction of this purchase agreement.
Notwithstanding any provision in the Trust Agreement or these Universal Trust Provisions to the contrary, the Trustees, in their sole and absolute discretion, are authorized to allocate receipts or disbursements as between income and principal in any manner deemed reasonable, even though such allocation is contrary to the Governing State Uniform Principal and Income Act or any similar statute then in effect.
To the extent allowed by the laws of the Governing State, all waivable duties of the Trustees under the Estates and Trusts Law, or any other applicable law, to give notice, information, and reports to one or more beneficiaries of the trust, are expressly waived for the full term of any trust created and/or governed by the Trust Agreement.