Validity, construction, and administration of trust with state jurisdiction provision

The validity, construction, and administration of a trust with a state jurisdiction provision are determined by the laws of this state, including the: (1) Capacity of the trustor; (2) Powers, obligations, liabilities, and rights of the trustees and the appointment and removal of the trustees; and (3) Existence and extent of powers, conferred or retained, including a trustee's discretionary powers, and the validity of the exercise of a power. Source: SL 1998, ch 282, § 21.