2010 Pennsylvania Code
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 75 - Limitations on Exercise of Trustee Powers and Powers of Beneficiaries to Appoint Trustees
7503 - Application of chapter.

     § 7503.  Application of chapter.
        (a)  General rule.--This chapter shall apply to:
            (1)  Any trust created under a governing instrument
        executed on or after March 21, 1999, unless the governing
        instrument expressly provides that this chapter does not
        apply.
            (2)  Any trust created under a governing instrument
        executed before March 21, 1999, unless all interested parties
        affirmatively elect on or before December 21, 2001, by a
        written declaration signed by or on behalf of each interested
        party and delivered to the trustee, not to be subject to the
        application of this chapter. In the case of a testamentary
        trust, the declarations shall be filed with the register in
        the county in which the will was admitted to probate.
        (b)  Exclusion.--This chapter shall not apply to:
            (1)  Any trust during the time that the trust is
        revocable or amendable by its settlor.
            (2)  A spouse of a decedent or settlor where the spouse
        is the trustee of a testamentary or inter vivos trust for
        which a marital deduction has been allowed.
            (3)  (Deleted by amendment).
            (4)  A trust under a governing instrument that by
        specific reference expressly rejects the application of this
        chapter.
            (5)  (Deleted by amendment).
     (July 7, 2006, P.L.625, No.98, eff. 60 days)

        2006 Amendment.  Act 98 amended subsec. (b).
        Cross References.  Section 7503 is referred to in section
     7502 of this title.