2025 Session
Last amended: 2015 session
§ 501C.0304 — Representation by Person Having Substantially Identical Interest
Plain-Language Summary
Lets one beneficiary represent others with the same interest in a trust.
501C.0304 REPRESENTATION BY PERSON HAVING SUBSTANTIALLY IDENTICAL INTEREST.
Unless otherwise represented under section 501C.0302, 501C.0303, or 501C.0305, a minor, an incapacitated or unborn individual, or a person whose identity or location is unknown and not reasonably ascertainable after making reasonable efforts to locate such person, may be represented by and bound by another having a substantially identical interest with respect to the particular question or dispute, but only to the extent there is no conflict of interest between the representative and the person represented.
History:
History: History:
2015 c 5 art 3 s 4
Practical Notes
If two beneficiaries have the same stake, one can act for both in trust matters.