Section 62-7-111 - Nonjudicial settlement agreements(a) For purposes of this section, "interested persons" means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.(b) Interested persons may enter into a binding nonjudicial settlement agreement with respect to only the following trust matters: (1) the approval of a trustee's report or accounting;(2) direction to a trustee to perform or refrain from performing a particular administrative act or the grant to a trustee of any necessary or desirable administrative power;(3) the resignation or appointment of a trustee and the determination of a trustee's compensation;(4) transfer of a trust's principal place of administration; and(5) liability of a trustee for an action relating to the trust.(c) Any interested person may request the court to approve a nonjudicial settlement agreement, to determine whether the representation as provided in Part 3 was adequate, and to determine whether the agreement contains terms and conditions the court could have properly approved.Amended by 2013 S.C. Acts, Act No. 100 (SB 143), s 2, eff. 1/1/2014.2005 Act No. 66, Section 1.