55-1-21.6. Discretion of trustee of purpose trust.

Except as otherwise provided in the governing instrument, a trustee of a purpose trust is vested with full discretion in:

(1)    Interpreting the purposes of the trust consistent with the terms of the governing instrument; and

(2)    Applying, distributing, or expending principal and income to further the trust's purposes.

Source: SL 2018, ch 275, § 9.