72-33-601. Acceptance of trust by trustee. (1) The person named as trustee may accept the trust, or a modification of the trust, by one of the following methods:
     (a) signing the trust instrument or the trust instrument as modified, or signing a separate written acceptance; or
     (b) knowingly exercising powers or performing duties under the trust instrument or the trust instrument as modified, except as provided in subsection (2).
     (2) In a case where there is an immediate risk of damage to the trust property, the person named as trustee may act to preserve the trust property without accepting the trust or a modification of the trust, if within reasonable time after acting the person delivers a written rejection of the trust or the modification of the trust to the trustor or, if the trustor is dead or incompetent, to a beneficiary. This subsection does not impose a duty on the person named as trustee to act.

     History: En. Sec. 47, Ch. 685, L. 1989.