§ 18-1-2 - Law expressly applicable when trustees are within state.
SECTION 18-1-2
§ 18-1-2 Law expressly applicable whentrustees are within state. – Whenever a person, whether or not a resident of this state and whether or not acitizen of the United States, subsequently creates a trust of personal propertyby deed, agreement, will, or otherwise, and: (1) the instrument creating thetrust provides in substance that it shall be construed and regulated by the lawof this state, (2) the trust is to be or is in fact administered in this state,and (3) the trustee, or if more than one at least one of them, is a resident ofthis state or a domestic corporation or national bank located within this stateduly authorized by law to act as trustee, the validity, construction, effect,and administration of the trust shall be determined and governed by the law ofthis state without reference to the law of any other state.