2006 New York Code - Trusts



 
                                  ARTICLE 7
 
                                   TRUSTS
 
                       PART 1. RULES GOVERNING TRUSTS
 
  Section 7-1.1  When trust interests not to merge.
          7-1.2  Trustee of passive trust not to take.
          7-1.3  Purchase-money resulting trust abolished.
          7-1.4  Purposes for which trust may be created.
          7-1.5  When trust interest inalienable; exception.
          7-1.6  Application of principal to income beneficiary.
          7-1.7  Interest remaining in creator of trust.
          7-1.8  Duration of trust for benefit of creditors.
          7-1.9  Revocation of trusts.
          7-1.10 Provision  by non-domiciliary creator as to law to govern
                   trust.
          7-1.11 Application  of  principal  to  creator   of   trust   as
                   reimbursement for taxes.
          7-1.12 Supplemental  needs  trusts  established for persons with
                   severe and chronic or persistent disabilities.
          7-1.13 Division of trusts and establishment of separate trusts.
          7-1.14 Who may make a lifetime trust.
          7-1.15 What property may be disposed of by lifetime trust.
          7-1.16 Revocation of lifetime trust by will.
          7-1.17 Execution, amendment and revocation of lifetime trusts.
          7-1.18 Funding of lifetime trust.
          7-1.19 Application for termination of uneconomical trust.
 
                      PART 2. RULES GOVERNING TRUSTEES
 
  Section 7-2.1  Extent of trustee's estate.
          7-2.2  When estate of trustee ceases.
          7-2.3  Trust  estate  not  to  descend  on  death  of   trustee;
                   appointment, duties and rights of successor trustee.
          7-2.4  Act of trustee in contravention of trust.
          7-2.5  Suspension of powers of trustee in war service.
          7-2.6  Resignation, suspension or removal of trustee.
          7-2.7  Accounting by trustee in supreme court.
          7-2.8  Commissions  of trustee to sell real property for benefit
                   of creditors.
 
          PART 3. RIGHTS OF PURCHASERS, CREDITORS AND OTHER PERSONS
 
  Section 7-3.1  Disposition  in  trust  for  creator  void   as   against
                   creditors.
          7-3.2  Bona fide purchasers and creditors protected.
          7-3.3  Person paying money to the trustee protected.
          7-3.4  Excess  income  from trust property subject to creditors'
                   claims.
          7-3.5  Rights of  creditors  to  obtain  information  concerning
                   beneficiaries.
 
                     PART 5. BANK ACCOUNTS IN TRUST FORM
 
  Section 7-5.1  Definitions.
          7-5.2  Terms of a trust account.
          7-5.3  Payment to beneficiary.
          7-5.4  Effect of payment.
          7-5.5  Rights not affected.
          7-5.6  Joint depositors.
          7-5.7  Multiple beneficiaries.
          7-5.8  Application.
 
                                   PART 6.
                      UNIFORM TRANSFERS TO MINORS ACT.
  Section
  7-6.1  Definitions.
  7-6.2  Scope and jurisdiction.
  7-6.3  Nomination of custodian.
  7-6.4  Transfer by gift or exercise of power of appointment.
  7-6.5  Transfer authorized by will or trust.
  7-6.6  Other transfer by fiduciary.
  7-6.7  Transfer by obligor.
  7-6.8  Receipt for custodial property.
  7-6.9  Manner of creating custodial property and effecting transfer;
           designation of initial custodian; control.
  7-6.10 Single custodianship.
  7-6.11 Validity and effect of transfer.
  7-6.12 Care of custodial property.
  7-6.13 Powers of custodian.
  7-6.14 Use of custodial property.
  7-6.15 Custodian's expenses, compensation and bond.
  7-6.16 Exemption of third person from liability.
  7-6.17 Liability to third persons.
  7-6.18 Renunciation, resignation, death or removal of custodian;
           designation of successor custodian.
  7-6.19 Accounting by and determination of liability of custodian.
  7-6.20 Termination of custodianship.
  7-6.21 Age eighteen election.
  7-6.22 Effect on existing custodianships.
  7-6.23 Applicability.
  7-6.24 Uniformity of application and construction.
  7-6.25 Short title.
  7-6.26 Severability.
 
                    PART 7. CHILD PERFORMER TRUST ACCOUNT
 
  Section 7-7.1 Child performer trust account
 
                      PART 8. HONORARY TRUSTS FOR PETS
 
  Section 7-8.1 Honorary trusts for pets

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