Georgia § 53-7-5 Powers, duties, and liabilities if more than one personal representative; safe deposit boxes or receptacles

Georgia Statutes

§ 53-7-5 — Powers, duties, and liabilities if more than one personal representative; safe deposit boxes or receptacles

(a)If more than one personal representative is qualified and unless the will provides otherwise:

(1)The personal representatives must act by their unanimous action; provided, however, that while a personal representative is unable to act because of inaccessibility, illness, or other incapacity, or when a vacancy occurs for any other reason, the remaining personal representatives may act as if they were the only personal representatives if necessary to administer the estate; and (2) The personal representatives may delegate in writing to one or more of them the authority to act for all of them; provided, however, that such delegation must satisfy the requirements of Code Sections 10-6B-5 and 10-6B-40 , and that all the personal representatives remain liable for the actions of the personal

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(a) If more than one personal representative is qualified and unless the will provides otherwise: (1) The personal representatives must act by their unanimous action; provided, however, that while a personal representative is unable to act because of inaccessibility, illness, or other incapacity, or when a vacancy occurs for any other reason, the remaining personal representatives may act as if they were the only personal representatives if necessary to administer the estate; and (2) The personal representatives may delegate in writing to one or more of them the authority to act for all of them; provided, however, that such delegation must satisfy the requirements of Code Sections 10-6B-5 and 10-6B-40 , and that all the personal representatives remain liable for the actions of the personal representative who is authorized to act. (b) If more than one personal representative is qualified and unless the will provides otherwise, a personal representative is liable for a breach committed by another personal representative: (1) By participating in a breach of fiduciary duty committed by the other personal representative; (2) By approving, knowingly acquiescing in, or concealing a breach of fiduciary duty committed by the other personal representative; (3) By negligently enabling the other personal representative to commit a breach of fiduciary duty; or (4) By neglecting to take reasonable steps to compel the other personal representative to redress a breach of fiduciary duty in a case where the personal representative knows or reasonably should have known of the breach of trust. (c) When safe-deposit boxes or receptacles are leased or rented to fiduciaries, including executors, administrators, guardians, trustees, custodians, receivers, and the like, the fiduciary or fiduciaries, as lessee or renter, may authorize the entering of the box or receptacle by one or fewer than all of them or by any other person without the presence or consent of the fiduciary or fiduciaries. Upon receipt of the written authorization, the bank or lessor may without liability authorize access to the box or receptacle in accordance with such authorization. Upon cancellation of the authorization, the bank or lessor may require the presence of all lessees or renters for access.

Georgia § 53-7-5 (Powers, duties, and liabilities if more than one personal representative; safe deposit boxes or receptacles) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.