55-1-46. No contest clause defined--Enforceability.

For purposes of §§ 55-1-46 to 55-1-51, inclusive, a no contest clause is a provision or clause in a trust, that penalizes a qualified beneficiary for contesting a trust or instituting other proceedings at law or equity relating to the trust estate, excluding proceedings related to trust administration. Except as provided in §§ 55-1-47 to 55-1-51, inclusive, a no contest clause shall be enforced unless probable cause exists for instituting the proceeding on the grounds of:

(1)    Fraud;

(2)    Duress;

(3)    Revocation;

(4)    Lack of contractual capacity;

(5)    Undue influence;

(6)    Mistake;

(7)    Forgery; or

(8)    Irregularity in the execution of the trust document.

Source: SL 2012, ch 233, § 8.