O.C.G.A. § 53-12-502
Authority, procedures, and powers of trust directors
Redline — December 1, 2018 → current.View current text →
Current — December 1, 2020
As of December 1, 2018
(1) Subject to this Code section, a trust instrument may grant powers of direction to a trust director.
(1) Except as otherwise provided in this Code section, a trust instrument may grant powers of direction to a trust director.
(2) A trust director shall be subject to the same rules as a trustee in a like position and under similar circumstances in the exercise or nonexercise of a power of direction regarding: A payback provision in the trust necessary to comply with the reimbursement requirements of Medicaid law in Section 1917 of the Social Security Act, 42 U.S.C. Section 1396p(d)(4)(A), as it existed on February 1, 2018, and regulations issued thereunder; and
(3) A charitable interest in the trust.
(2) 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.
(3) 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.
(4) 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.
(4) 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.
(5) In the case of a power to modify the trust: The duties or liabilities of a trustee may not be enlarged without the trustee's express consent; and
(5) In the case of a power to modify the trust: The duties or liabilities of a trustee may not be enlarged without the trustee's express consent; and
(6) A trustee 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.
(6) A trustee 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.