75-7-1103 - Application to existing relationships.
75-7-1103. Application to existing relationships.
(1) Except as otherwise provided, this chapter applies to:
(a) all trusts created before, on, or after July 1, 2004;
(b) all judicial proceedings concerning trusts commenced on or after July 1, 2004; and
(c) judicial proceedings concerning trusts commenced before July 1, 2004 unless thecourt finds that application of a particular provision of this chapter would substantially interferewith the effective conduct of the judicial proceedings or prejudice the rights of the parties, inwhich case the particular provision of this chapter does not apply and the superseded section willapply.
(2) Any rule of construction or presumption provided in this chapter applies to trustinstruments executed before July 1, 2004 unless there is a clear indication of a contrary intent inthe terms of the trust.
(3) An act done before July 1, 2004 is not affected by this chapter.
(4) If a right is acquired, extinguished, or barred upon the expiration of a prescribedperiod that has commenced to run under any other statute before July 1, 2004, that statutecontinues to apply to the right even if it has been repealed or superseded.
Enacted by Chapter 89, 2004 General Session