72-38-132. Content of notice. The notice of proposed action or notice of proposed inaction must state that it is given pursuant to this part and must include all of the following:
(1) the name and mailing address of the trustee;
(2) the name and telephone number of a person who may be contacted for additional information;
(3) a description of the action or inaction proposed, the material facts upon which the trustee has relied in making its decision regarding the proposed action or inaction, and an explanation of the reasons for the action or inaction;
(4) a statement that failure of a qualified beneficiary to object within the allowed time bars the qualified beneficiary from taking any legal action against the trustee for liability within the scope of 72-38-133 except as provided in 72-38-133(3) and that a qualified beneficiary may want to seek independent legal advice regarding the matter at the qualified beneficiary's expense;
(5) the time within which objections to the proposed action or inaction can be made, which must be at least 30 days from providing the notice of proposed action or notice of proposed inaction; and
(6) the date on or after which the proposed action or inaction is effective.
History: En. Sec. 21, Ch. 264, L. 2013; amd. Sec. 32, Ch. 55, L. 2015; amd. Sec. 1, Ch. 181, L. 2015.
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