410108. Principal place of administration. (a) Without precluding other means for establishing a sufficient connection with the designated jurisdiction, terms of a trust designating the principal place of administration are valid and controlling if: (i) A trustee's principal place of business is located in, or a trustee is a resident of, the designated jurisdiction; (ii) All or part of the administration occurs in the designated jurisdiction; or (iii) The settlor was a resident of the designated jurisdiction at creation of the trust instrument. (b) A trustee is under a continuing duty to administer the trust at a place appropriate to its purposes, its administration and the interests of the beneficiaries unless otherwise provided in subsection (a) of this section or changed as provided in subsection (c) of this section. (c) Without precluding the right of the court to order, approve or disapprove a transfer, the trustee, in furtherance of the duty prescribed by subsection (b) of this section, may transfer the trust's principal place of administration to another state or to a jurisdiction outside of the United States. (d) The trustee shall notify the qualified beneficiaries in writing of a proposed transfer of a trust's principal place of administration to another jurisdiction not less than sixty (60) days before initiating the transfer, unless waived by written consent of all qualified beneficiaries. The notice of proposed transfer shall include: (i) The name of the jurisdiction to which the principal place of administration is to be transferred; (ii) The address and telephone number at the new location at the trustee can be contacted; (iii) An explanation of the reasons for the proposed transfer; (iv) The date on which the proposed transfer is anticipated to occur; and
410108. Principal place of administration. (a) Without precluding other means for establishing a sufficient connection with the designated jurisdiction, terms of a trust designating the principal place of administration are valid and controlling if: (i) A trustee's principal place of business is located in, or a trustee is a resident of, the designated jurisdiction; (ii) All or part of the administration occurs in the designated jurisdiction; or (iii) The settlor was a resident of the designated jurisdiction at creation of the trust instrument. (b) A trustee is under a continuing duty to administer the trust at a place appropriate to its purposes, its administration and the interests of the beneficiaries unless otherwise provided in subsection (a) of this section or changed as provided in subsection (c) of this section. (c) Without precluding the right of the court to order, approve or disapprove a transfer, the trustee, in furtherance of the duty prescribed by subsection (b) of this section, may transfer the trust's principal place of administration to another state or to a jurisdiction outside of the United States. (d) The trustee shall notify the qualified beneficiaries in writing of a proposed transfer of a trust's principal place of administration to another jurisdiction not less than sixty (60) days before initiating the transfer, unless waived by written consent of all qualified beneficiaries. The notice of proposed transfer shall include: (i) The name of the jurisdiction to which the principal place of administration is to be transferred; (ii) The address and telephone number at the new location at the trustee can be contacted; (iii) An explanation of the reasons for the proposed transfer; (iv) The date on which the proposed transfer is anticipated to occur; and
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