Tennessee § 35-15-1203 - Trust advisor and trust protector subject to court jurisdiction.

§ 35-15-1203. Trust advisor and trust protector subject to court jurisdiction.

By accepting appointment to serve as a trust advisor or trust protector, the trust advisor or the trust protector submits personally to the jurisdiction of the courts of this state even if investment advisory agreements or other related agreements provide otherwise, and the trust advisor or trust protector may be made a party to any action or proceeding relating to a decision, action, or inaction of the trust advisor or trust protector. Acts 2013, ch. 390, § 43. Compiler's Notes. Acts 2013, ch. 390, § 55 provided that: (b) Except as otherwise provided in the act, on July 1, 2013: The act applies to all trusts created before, on, or after July 1, 2013; The act applies to all judicial proceedings concerning trusts commenced on or after July 1, 2013; The act applies to judicial proceedings concerning trusts commenced before July 1, 2013, unless the court finds that application of a particular provision of the act would substantially interfere with the effective conduct of the judicial proceedings or prejudice the rights of the parties, in which case the particular provision of the act does not apply and the superseded law applies; Any rule of construction or presumption provided in the act applies to trust instruments executed before July 1, 2013, unless there is a clear and express indication of a contrary intent in the terms of the trust; and An act done before July 1, 2013, is not affected by the act. Section Comment. Unless provided otherwise hereinafter, any reference to “section,” “subsection” or “subdivision” means all, or such portion of, T.C.A. § 35-15-1203 . The Uniform Trust Code has no similar provision to this section. The effects of the provisions of this section may result in significant divergence from the Uniform Trust Code and the restatements. To the extent this section is in conflict with the Uniform Trust Code, any restatement or any other foreign law, such foreign law is not precedential or con-trolling and is rejected by the Tennessee Uniform Trust Code. This section states several things regarding court jurisdiction over a trust advisor or trust protector: By accepting such appointment, a trust advisor or trust protector submits to the jurisdiction of the courts of this state. (Note that under T.C.A. § 35-15-711 , a trust advisor or trust protector has the same rights as does a trustee relative to accepting or rejecting appointment, as well as certain powers before accepting appointment; such powers being spelled out in detail in T.C.A. § 35-15-701 , to which T.C.A. § 35-15-711 refers). Such trust advisor or trust protector can be made a party to any action or proceeding relating to any decision, action or inaction of such trust advisor or trust protector. If a right is acquired, extinguished, or barred upon the expiration of a prescribed period that has commenced to run under any other statute before July 1, 2013, that statute continues to apply to the right even if it has been repealed or superseded.