§ 14.5-111. Nonjudicial settlement agreements
West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2016
Effective: October 1, 2016
MD Code, Estates and Trusts, § 14.5-111
§ 14.5-111. Nonjudicial settlement agreements
(a) In this section, “interested person” means a person whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.
(b) Except as otherwise provided in subsection (c) of this section, on or after October 1, 2016, interested persons may enter into a binding nonjudicial settlement agreement with respect to a matter involving a trust.
(c) A nonjudicial settlement agreement is valid only to the extent the settlement does not violate a material purpose of the trust and includes terms and conditions that could be properly approved by the court under this title or other applicable law.
(d) Matters that may be resolved by a nonjudicial settlement agreement include:
Credits
Added by Acts 2016, c. 221, § 1, eff. Oct. 1, 2016; Acts 2016, c. 222, § 1, eff. Oct. 1, 2016.
MD Code, Estates and Trusts, § 14.5-111, MD EST & TRST § 14.5-111
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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