Public-domain · open source
OpenJurist

O.C.G.A. § 53-12-502

Authority, procedures, and powers of trust directors

— Code 1981, § 53-12-502, enacted by Ga

(a) Except as otherwise provided in this Code section, a trust instrument may grant powers of direction to a trust director.

(b) Except as otherwise provided in the trust instrument, when a trust instrument grants powers of direction to a trust director, the trust director shall have any further powers appropriate to the exercise or

nonexercise of the powers of direction.

(c) A trust director shall have the same power to employ and compensate persons, subject to the same limitations, that a trustee has under paragraph (23) of subsection (b) of Code Section 53-12-261.

(d) The powers of direction of a trust director who is also a beneficiary shall be subject to the limitations of Code Section 53-12-270.

(e) In the case of a power to modify the trust:

(1) The duties or liabilities of a trustee may not be enlarged without the trustee’s express consent; and

(2) Atrustee shall not be liable for failing to act in accordance with a modification or termination of a trust of which the trustee had no notice.

Current official text: Official Code of Georgia Annotated (LexisNexis). Digitized from the Internet Archive scan of the OCGA. Reproduced from public-domain Georgia statutes; confirm against the official source for the current text. Not legal advice.