[Text of section added by 2008, 521, Sec. 9 effective January 2, 2012. See 2008, 521, Sec. 44 as amended by 2010, 409, Sec. 23.]
Section 7-101. [Principal Place of Administration.]
A trust shall be subject to the jurisdiction of the court of the commonwealth for the county in which is located its principal place of administration. The principal place of administration of a testamentary trust shall be deemed to be the location of the court of the commonwealth in which the will creating the trust was granted informal or formal probate. Unless otherwise designated in the trust instrument, the principal place of administration of an inter vivos trust is the trustee’s usual place of business where the records pertaining to the trust are kept, or at the trustee’s residence if the trustee has no such place of business. In the case of co-trustees, the principal place of administration, if not otherwise designated in the trust instrument, is (1) the usual place of business of the corporate trustee if there is but 1 corporate co-trustee, or (2) the usual place of business or residence of the individual trustee who is a professional fiduciary if there is but 1 such person and no corporate co-trustee, and otherwise (3) the usual place of business or residence of any of the co-trustees as agreed upon by them.