Code of Alabama - Title 19: Fiduciaries and Trusts - Chapter 3 - Trusts

• Article 1 General Provisions.
• Section 19-3-1 Express trust for support, maintenance and education of relative; qualified trust under Internal Revenue Code; definitions
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-2 Extinguishment of trust
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-3 Estate of trustee; termination of trust estate
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-4 Indemnification of trustee
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-5 Notice of settlement
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-6 Allowance of fees
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-7 Registration of securities held by corporate fiduciary in name of nominee of such fiduciary
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-8 Execution of proxies by fiduciary holding corporate stocks
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-9 Satisfaction of pecuniary gifts by distribution of property in kind
  (a) Where by the terms of a will or trust instrument a fiduciary may or must satisfy a pecuniary gift thereunder by distributing or allocating...
• Section 19-3-10 Conversion or exchange, etc., of securities upon merger, consolidation, etc
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-11 Powers of fiduciaries regarding environmental laws affecting property held by fiduciary
  (a) In addition to powers, remedies and rights which may be set forth in any will, trust agreement or other document which is the source...
• Article 2 Express Trusts for Payment or Security of Debts.
• Section 19-3-20 Right of creditors to apply for order requiring trustee to give bond
  When an express trust is created for the payment or security of debts and, by the terms thereof, the trustee is not required to give...
• Section 19-3-21 Contents of application; notice of hearing
  The application must be in writing, verified by affidavit, must state the nature and character of the trust and of the interest of the applicant...
• Section 19-3-22 Hearing; order
  On the day appointed, or on any other day to which such application may be continued, if it appears that the applicant has a real,...
• Section 19-3-23 Failure of trustee to give bond; appointment of successor
  If the trustee fails for five days from and after the making of such order, to give such bond, the register or clerk must make...
• Section 19-3-24 Duty of trustee to make inventory; filing of copies; supplemental inventories
  It is the duty of the trustee of an express trust created for the payment of debts, within 20 days after entering upon the execution...
• Section 19-3-25 Appointment and duties of appraisers
  On the filing of such inventory, the register or clerk must indorse upon each of such copies the fact and date of such filing and...
• Section 19-3-26 When petition for administration may be filed; contents of petition
  If the value of the trust estate, as appraised by the appraisers, exceeds $1,000.00, the trustee, or assignor, or any creditor, or any number of...
• Section 19-3-27 Submission of petition to circuit judge; order designating time for presenting claims
  Upon the filing of such petition the register or clerk must submit the same, together with the inventory and appraisement, upon the original papers, to...
• Section 19-3-28 Notice to creditors
  Upon the making of such order the register or clerk must give notice thereof by mail, postage prepaid, to each creditor whose name and address...
• Section 19-3-29 Presentation of claims; verification; receipt
  All claims against the trust estate must be presented by or on the day specified in such order and notice, by filing the claim, or...
• Section 19-3-30 Claims docket
  The register or clerk must keep a docket in which he must enter each claim, showing under appropriate captions, the name and address of the...
• Section 19-3-31 Claims presented and not objected to stand allowed
  All claims to which no objection is made in the manner provided in Sections 19-3-32 and 19-3-33, within three months after the expiration of the...
• Section 19-3-32 Objections to claims - Filing of objections
  At any time within three months after the expiration of the time allowed for the presentation of claims, or at any time prior thereto, the...
• Section 19-3-33 Objections to claims - Time for hearing; notice
  Within 30 days after the expiration of the time allowed for filing objections to claims, the register or clerk must appoint a time, not less...
• Section 19-3-34 Objections to claims - Conduct of hearing; order allowing or disallowing claim
  On the day appointed for the hearing, or any day to which the same may be continued, the register or clerk must proceed to hear...
• Section 19-3-35 Duty of trustee to render account
  Within three months after the expiration of the time allowed for the filing of objections to claims, the trustee must render, under oath, to the...
• Section 19-3-36 Time for settlement; notice to creditors
  Upon the filing of such account the register or clerk must appoint a day, not less than 20 nor more than 60 days thereafter, to...
• Section 19-3-37 Examination and auditing of account; judgment
  Upon the day so appointed, or any day to which the hearing may be continued, the register or clerk must proceed to examine and audit...
• Section 19-3-38 Admissibility of evidence at hearings; exceptions; appeals
  Upon a hearing before the register or clerk under any of the provisions of this article, any competent legal evidence, written or oral, may be...
• Section 19-3-39 Compromise or sale of bad debts
  Upon the application of the trustee, the court may authorize the compromise of any bad and doubtful debts or choses in action belonging to the...
• Section 19-3-40 Sale of real estate; notice to creditors
  The trustee may make sale of any real estate or interest therein belonging to the trust estate, at public outcry to the highest bidder, after...
• Section 19-3-41 When settlements compelled; removal of trustee and appointment of successor
  If the trustee shall fail to make settlement, partial or final, as required in this article he may be compelled to do so, by citation...
• Article 3 Business Trusts.
• Section 19-3-60 Definition of "business trust."
  A business trust is an express trust created by a written declaration of trust whereby property is conveyed to one or more trustees, who hold...
• Section 19-3-61 Establishment; lawful purposes
  A business trust may be established by a declaration of trust, duly executed by one or more trustees, for any lawful purpose including, but not...
• Section 19-3-62 Powers and liabilities of trustees; liability of trust for acts of trustees
  The trustees shall hold the legal title to all property at any time belonging to the business trust. They shall have control over such property...
• Section 19-3-63 Certificates of ownership; liability of beneficial owners
  The beneficial ownership in a business trust shall be evidenced by certificates issued by the trustees. These certificates shall be transferable in the same manner...
• Section 19-3-64 Contents and recordation of declaration of trust
  The written declaration of trust may provide for the election of successor trustees in the event of the death, resignation and removal of a trustee...
• Section 19-3-65 Duration of business trust; rules against perpetuities and restraint of alienation not violated
  A business trust shall not be deemed invalid as violating the rule against perpetuities or the law against suspension of the powers of alienation. Such...
• Section 19-3-66 Suits against trust; property subject to attachment and execution
  A business trust may be sued for debts and other obligations incurred by the trustees in the performance of their duties under the declaration of...
• Section 19-3-67 Taxation
  Repealed by Act 2006-114, p. 173, §5, effective for tax years beginning on or after January 1, 2005.
• Article 4 Fiduciary Funds in Hands of Officials.
• Section 19-3-80 "Fiduciary funds" defined
  "Fiduciary funds," as used in this article, shall include any sums whatsoever which have come into the hands of such officer and of which he...
• Section 19-3-81 Fiduciary funds in hands of register, probate judge, sheriff, and clerk to be reported
  Every register, probate judge, sheriff, clerk and register shall prepare a report in writing showing the amount of all fiduciary funds in the hands of...
• Section 19-3-82 Filing of reports of clerk and register
  The register and the clerk shall file the report with the judge of the court of which he is the clerk, or clerk and register,...
• Section 19-3-83 Filing of sheriff's report
  The sheriff shall file, at the first session held after the first day of January of each court under whose processes he holds any money,...
• Section 19-3-84 Reports to be open to public
  The judge of such court shall carefully examine said report and order the same recorded by the clerk of the court in a well-bound book,...
• Section 19-3-85 Filing and recordation of probate judge's report
  The probate judge shall file such statement in his court within the first 10 days of January of each year and record the same in...
• Section 19-3-86 Enforcement
  The judges of courts of record in this state, at the first session of their courts held after January 1, shall enforce the provisions of...
• Section 19-3-87 Unclaimed funds
  If at any time it should appear to the court, or be made known to the court, that any balance has been in the hands...
• Article 5 Liability of Trust Estate and Remedy for Enforcing. Repealed.
• Section 19-3-100 When trust estate may become liable
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-101 Petition to enforce liability - Filing; substitution of parties
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-102 Petition to enforce liability - Judgment charging estate
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-103 Petition to enforce liability - Pending action for administration
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-104 Petition to enforce liability - Charging real property
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-105 Misapplication of assets
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-106 Tracing misapplied assets
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-107 Framing relief so as to render trust effectual
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Article 6 Investment of Trust Estate.
• Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes
  (a) Unless otherwise authorized or directed by the court having jurisdiction thereof, or by the will, trust agreement or other document which is the source...
• Section 19-3-120.1 Investments in common trusts, collective investment funds, and interests of investment companies and trusts
  In addition to the investments authorized by Section 19-3-120, by any other provision of law for the investment of funds held by a trustee, executor,...
• Section 19-3-120.2 Standards for fiduciary investment and management
  (a) When investing, reinvesting, purchasing, acquiring, exchanging, selling and managing property for the benefit of another, a trustee, executor, administrator, guardian, conservator or other fiduciary,...
• Section 19-3-121 Interest-bearing warrants
  A trustee, executor, administrator, guardian or one acting in any other fiduciary capacity may, with the exercise of reasonable business prudence, in addition to any...
• Section 19-3-122 Securities issued or insured by secretary of housing and urban development
  It shall be lawful for trustees, executors, administrators, guardians and other fiduciaries, the State of Alabama and any of its departments, boards, institutions and agencies,...
• Section 19-3-123 Mortgages insured by secretary of housing and urban development - Investment
  It shall be lawful for trustees, executors, administrators, guardians and other fiduciaries to invest their funds and the moneys in their custody or possession eligible...
• Section 19-3-124 Mortgages insured by secretary of housing and urban development - Sale, etc
  It shall be lawful for trustees, executors, administrators, guardians and other fiduciaries, upon the termination of their fiduciary relationships, whether by revocation or otherwise, to...
• Section 19-3-125 Life, endowment, or annuity contracts
  In addition to any other investment now permitted by law, a guardian or trustee may invest the funds of his ward or of the beneficiary...
• Section 19-3-126 Tax anticipation bonds, etc., of certain counties
  Unless otherwise directed by the court having jurisdiction thereof, or by the will, trust agreement or other document which is the source of authority, any...
• Section 19-3-127 Bonds of Tennessee Valley Authority
  Bonds issued by the Tennessee Valley Authority under the provisions of the Tennessee Valley Authority Act of 1933, as amended or as the same may...
• Section 19-3-128 Debts incurred under National Housing Act and under acts of Congress relating to veterans' benefits
  All debts or extensions of credit incurred pursuant to any provision of the act of Congress known as the National Housing Act, as the same...
• Section 19-3-129 General rules of law govern trustee's liability
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-130 Investment outside state
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-131 Petition to obtain authority; notice
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-132 Judgment on hearing
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Article 7 Participation in Partnerships.
• Section 19-3-150 "Fiduciary" defined
  As used in this article, the term "fiduciary" means the executor of a will, the administrator of a decedent's estate or the trustee of an...
• Section 19-3-151 Right of fiduciary to participate in partnership; liability of fiduciary, estate and beneficial owners
  If permitted by the trust instrument or will under which he serves or by order of a court having jurisdiction of the estate or trust,...
• Section 19-3-152 Power of fiduciary to limit liability of estate or himself
  Nothing in this article shall be construed to prohibit a fiduciary from further limiting his liability, or the liability of the trust or estate which...
• Article 8 Partition or Sale of Real or Personal Property.
• Section 19-3-170 Partition of freehold devised with contingent interest
  When any deceased tenant in common, joint tenant or coparcener of real estate shall have devised any freehold interest in such estate to any person,...
• Section 19-3-171 Sale of land held under trust deed
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-172 Sale of land devised and held in trust
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-173 Investment of proceeds of sale
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Article 9 Removal of Trust Estate to Another State.
• Section 19-3-190 Power of circuit court to authorize removal of trust estate
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-191 Petition to obtain removal; notice
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-192 Judgment on hearing
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Article 10 Appointment, Resignation and Removal of Trustees.
• Division 1 General Provisions.
• Section 19-3-210 Resignation
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-211 Removal - Grounds
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-212 Removal - Appointment of successor
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Division 2 Removal of Trust Estate From Another State.
• Section 19-3-230 Application to appoint trustee
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-231 Notice of hearing
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-232 Appointment of trustee
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-233 Bond
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-234 Fees of register or clerk
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Article 11 Succession or Appointment of New Trustees.
• Section 19-3-250 Power of circuit court to fill vacancy
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-251 When circuit court must appoint new trustee; number of new trustees
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-252 Survivorship between cotrustees
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-253 Representative of deceased sole trustee to settle with succeeding trustee
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Article 12 Principal and Income. Repealed.
• Section 19-3-270 Definitions
  Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001.
• Section 19-3-271 Applicability of article; powers of settlor
  Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001.
• Section 19-3-272 Income and principal; disposition
  Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001.
• Section 19-3-273 Apportionment of income
  Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001.
• Section 19-3-274 Corporate dividends and share rights
  Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001.
• Section 19-3-275 Premium and discount obligations
  Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001.
• Section 19-3-276 Principal used in business
  Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001.
• Section 19-3-277 Principal comprising animals
  Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001.
• Section 19-3-278 Disposition of natural resources
  Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001.
• Section 19-3-279 Principal subject to depletion
  Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001.
• Section 19-3-280 Unproductive estate
  Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001.
• Section 19-3-281 Expenses - Trust estates
  Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001.
• Section 19-3-282 Expenses - Nontrust estates
  Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001.
• Article 13 Private Foundations, Charitable Trusts, and Split-interest Trusts.
• Section 19-3-300 Trustee not to engage in certain acts subjecting trust to federal taxation
  Notwithstanding any provision to the contrary in the governing instrument or under any other law of this state and except as otherwise provided by judgment...
• Section 19-3-301 Power to amend trust instrument
  (a) The trustee of a trust, whenever created, which is or is treated as a private foundation as defined in Section 509 of the Internal...
• Section 19-3-302 Rights and powers of courts and Attorney General not impaired
  Nothing in this article shall impair the rights and powers of the courts or the Attorney General of this state with respect to any trust....
• Section 19-3-303 Future provisions of federal internal revenue laws included
  All references to sections of the Internal Revenue Code of 1954 shall include future amendments to such sections and corresponding provisions of future internal revenue
• Article 14 Actions of Trustees of Express Trusts. Repealed.
• Section 19-3-320 Definitions
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-321 Trustee allowed to perform prudent person actions without prior court authorization
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-322 Powers of trustee
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-323 Termination of small trusts where continued administration too costly; actions by trustee to carry out trust purpose
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-324 Actions trustee who is also beneficiary may not perform; powers of person who has right to remove trustee; parties in interest
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-325 Concurrence of all co-trustees required
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-326 Payment out of trust estate of expenses of trustee in defending or prosecuting proceedings in good faith
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-327 Applicability of article
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
• Section 19-3-328 Construction of article
  Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.

Last modified: May 3, 2021