2021 Wyoming Statutes
Title 4 - Trusts
Chapter 10 - Uniform Trust Code
Article 1 - General Provisions and Definitions
Section 4-10-108 - Principal Place of Administration; Governing Law for Administering Trusts.

4-10-108. Principal place of administration; governing law for administering trusts.

(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 which 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

(v) The date, not less than sixty (60) days after the giving of the notice, by which the qualified beneficiary is required to notify the trustee of an objection to the proposed transfer.

(e) The authority of a trustee under this section to transfer a trust's principal place of administration terminates if a qualified beneficiary notifies the trustee of an objection to the proposed transfer on or before the date specified in the notice.

(f) The laws of this state shall govern the administration of any trust:

(i) For which the principal place of administration of the trust is Wyoming;

(ii) Whose principal place of administration has been changed to Wyoming;

(iii) Of which a trustee's principal place of business is located in, or a trustee is a resident of, Wyoming, provided that a majority of the trustees select the laws of this state to govern the administration of the trust through a signed, written instrument, unless the terms of the trust:

(A) Specify that the law of the principal place of administration, which is a jurisdiction other than Wyoming, governs the administration of the trust;

(B) Expressly prohibit a change in the choice of law for the administration of the trust; and

(C) Expressly state that a change in the choice of law for the administration of the trust is prohibited, even if a trustee from another jurisdiction becomes a trustee of the trust.