Georgia § 53-12-502 Authority, procedures, and powers of trust directors

Georgia Statutes

§ 53-12-502 — Authority, procedures, and powers of trust directors

(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 trus

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(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) 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.

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