§14–602.

    (a)    Except as otherwise provided in this section, this subtitle applies to any express trust that:

        (1)    Is irrevocable or revocable by the settlor only with the consent of the trustee or a person holding an adverse interest; and

        (2)    (i)    Has its principal place of administration in this State, including a trust whose principal place of administration has been changed to this State; or

            (ii)    Is governed by the law of this State for the purpose of:

                1.    Administration, including administration of a trust whose governing law for purposes of administration has been changed to the law of this State;

                2.    Construction of the terms of the trust; or

                3.    Determining the meaning or effect of the terms of the trust.

    (b)    This subtitle does not apply to a trust held solely for charitable purposes.

    (c)    Except as otherwise provided in this subtitle, a trust instrument may restrict or prohibit the exercise of the decanting power.

    (d)    This subtitle does not limit the power of a trustee, a powerholder, or any other person to:

        (1)    Distribute or appoint property in further trust; or

        (2)    Modify a trust under the trust instrument, law of this State other than this title, common law, a court order, or a nonjudicial settlement agreement.

    (e)    This subtitle does not limit the ability of a settlor to provide in a trust instrument for the distribution or appointment in further trust of trust property or the modification of the trust instrument.