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PARRIS N. GLENDENING, Governor
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Ch. 478
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(4) THE TRUSTEE DETERMINES, AFTER APPLYING THE RULES IN §
15-502(A) OF THIS SUBTITLE, THAT THE TRUSTEE IS UNABLE TO COMPLY WITH §
15-502(B) OF THIS SUBTITLE;
(5) THE TRUSTEE DETERMINES THAT CONVERSION OF THE TRUST TO A
UNITRUST IN ACCORDANCE WITH § 15-502.1(A) OF THIS SUBTITLE IS AN
INAPPROPRIATE METHOD TO COMPLY WITH § 15-502(B) OF THIS SUBTITLE BASED ON
A REVIEW OF ALL FACTORS RELEVANT TO THE TRUST AND ITS BENEFICIARIES; AND
(6) (I) THE TRUSTEE COMPLIES WITH THE NOTICE REQUIREMENTS
OF § 15-502.3 OF THIS SUBTITLE AND ALL QUALIFIED BENEFICIARIES CONSENT; OR
(II) A COURT REVIEWS A PETITION FILED UNDER 15-502.3 OF THIS
SUBTITLE AND APPROVES THE ADJUSTMENT.
(B) IN DECIDING WHETHER AND TO WHAT EXTENT TO EXERCISE THE POWER
CONFERRED BY SUBSECTION (A) OF THIS SECTION, A TRUSTEE SHALL CONSIDER ALL
THE FACTORS RELEVANT TO THE TRUST AND ITS BENEFICIARIES, INCLUDING THE
FOLLOWING FACTORS TO THE EXTENT THEY ARE RELEVANT:
(1) THE NATURE, PURPOSE, AND EXPECTED DURATION OF THE TRUST;
(2) THE INTENT OF THE CREATOR OF THE TRUST;
(3) THE IDENTITY AND CIRCUMSTANCES OF THE BENEFICIARIES;
(4) THE NEEDS FOR LIQUIDITY, REGULARITY OF INCOME, AND
PRESERVATION AND APPRECIATION OF CAPITAL;
(5) THE ASSETS HELD IN THE TRUST AND:
(I) THE EXTENT TO WHICH THEY CONSIST OF FINANCIAL ASSETS,
INTERESTS IN CLOSELY HELD ENTERPRISES, TANGIBLE AND INTANGIBLE PERSONAL
PROPERTY, OR REAL PROPERTY;
(II) THE EXTENT TO WHICH AN ASSET IS USED BY A BENEFICIARY;
AND
(III) WHETHER AN ASSET WAS ACQUIRED BY THE TRUSTEE OR
RECEIVED FROM THE CREATOR OF THE TRUST;
(6) THE NET AMOUNT ALLOCATED TO INCOME UNDER OTHER
PROVISIONS OF THIS SUBTITLE AND THE INCREASE OR DECREASE IN THE VALUE OF
THE PRINCIPAL ASSETS, WHICH THE TRUSTEE MAY ESTIMATE AS TO ASSETS FOR
WHICH MARKET VALUES ARE NOT READILY AVAILABLE;
(7) WHETHER AND TO WHAT EXTENT THE TERMS OF THE TRUST GIVE
THE TRUSTEE THE POWER TO INVADE PRINCIPAL OR ACCUMULATE INCOME AND
THE EXTENT TO WHICH THE TRUSTEE HAS EXERCISED A POWER FROM TIME TO TIME
TO INVADE PRINCIPAL OR ACCUMULATE INCOME;
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(8) THE ACTUAL AND ANTICIPATED EFFECT OF ECONOMIC CONDITIONS
ON PRINCIPAL AND INCOME AND THE EFFECTS OF INFLATION AND DEFLATION; AND
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- 3813 -
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