UT HB0176

Reorganizes and renumbers Title 7, Chapter 5 (Trust Business) of Utah Code, converting sections 7-5-1 through 7-5-15 to new numbering 7-5-101 through 7-5-116

Expands exemptions from the definition of "trust business" to include trust directors, trust protectors, trust advisors exercising fiduciary or non-fiduciary powers, surrogates acting under the Uniform Health Care Decisions Act, and guardians whose duties are limited and non-financial in nature

Adds new exemption for court-appointed trustees or personal representatives who have consent from the majority of current permissible distributees or interested persons, or who demonstrate adequate competence to the court

Establishes that attorneys or CPAs who violate trust laws while serving as court-appointed fiduciaries are not subject to enforcement by the Department of Financial Institutions but may face disciplinary action from the Utah State Bar or Division of Professional Licensing respectively

Effective date: May 6, 2026