(a) This article shall apply when the trust instrument evidences the settlor’s intent to provide for the office and function of a trust director, regardless of the terms used to describe such office and functions.
(b) This article shall not apply to:
(1) A power of appointment;
(2) A power to appoint or remove a trustee or trust director;
(3) A power of a settlor to revoke the trust or amend the trust
instrument;
(4) A power of a beneficiary over a trust to the extent the exercise or nonexercise of the power affects the beneficial interest of the beneficiary or a person represented by the beneficiary under Code Section 53-12-8 with respect to the exercise or nonexercise of the
power; or
(5) A power over a trust if both:
(A) The trust instrument provides such power is held in a
nonfiduciary capacity; and
(B) Such power is held in a nonfiduciary capacity to achieve the
settlor’s tax objectives.
(c) Except as otherwise provided in the trust instrument, for pur-
poses of this Code section a power granted to a person to designate a recipient of an ownership interest in or power over trust property that is exercisable in a capacity other than as a trustee is a power of
appointment and not a power of direction.