[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 7-303. [Duty to Inform and Account to Beneficiaries.]
The trustee shall keep the donor of a revocable trust and the beneficiaries of an irrevocable trust reasonably informed of the trust and its administration. In addition, unless the trust is revocable:
(a) Within 30 days after his acceptance of the trust or the trust becomes irrevocable, whichever is later, the trustee shall inform in writing the current beneficiaries and if possible, 1 or more persons who under section 1-403 may represent beneficiaries with future interests, of the court having jurisdiction over the trust and of the trustee’s name and address. The information shall be delivered or sent by ordinary first class mail.
(b) Upon reasonable request, the trustee shall provide the beneficiary with a copy of the trust and with relevant information about the assets of the trust and the particulars relating to its administration.
(c) Upon reasonable request, a beneficiary is entitled to a statement of the accounts of the trust annually and on termination of the trust or change of the trustee.