15-5-508. Application of part.
Statute text
(1) This part 5 applies to all trusts created before, on, or after July 1, 2022.
(2) This part 5 applies to all judicial proceedings concerning trusts commenced on or after July 1, 2022.
(3) This part 5 applies to judicial proceedings concerning trusts commenced before July 1, 2022, unless the court finds that application of a particular provision of this part 5 would substantially interfere with the effective conduct of the judicial proceedings or prejudice the rights of the parties, in which case the particular provision of this part 5 does not apply and the superseded law applies.
(4) Any rule of construction or presumption provided in this part 5 applies to trust instruments executed before July 1, 2022, unless there is a clear indication of a contrary intent in the terms of the trust.
(5) An act done before July 1, 2022, is not affected by this part 5.
(6) If a right affected by this part 5 is acquired, extinguished, or barred upon the expiration of a prescribed period that has commenced to run pursuant to any other statute before July 1, 2022, then the period prescribed by that statute continues to apply to the right.
History
Source: L. 2021: Entire part added, (SB 21-162), ch. 170, p. 943, 1, effective September 7.