Maine § 18-B §703 Cotrustees

Maine Statutes

§ 18-B §703 — Cotrustees

Maine § 18-B §703

Title 18-BTRUSTS

Part 1MAINE UNIFORM TRUST CODE

Ch. 7OFFICE OF TRUSTEE

This text of Maine § 18-B §703 (Cotrustees) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 18-B, § 18-B §703 (2026).

Text

1.Unanimous decision; majority decision. Cotrustees who are unable to reach a unanimous decision may act by majority decision.

2.Vacancy. If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.

3.Participation by cotrustee. Subject to the Maine Uniform Directed Trust Act, a cotrustee shall participate in the performance of a trustee's function unless the cotrustee is unavailable to perform the function because of absence, illness, disqualification or other temporary incapacity or the cotrustee has properly delegated the performance of the function to another trustee.

4.Cotrustee unavailable. If a cotrustee is unavailable to perform duties because of absence, illness, disqualification or other temporary incapacity, the remaining cotrustee or a majority of

Free access — add to your briefcase to read the full text and ask questions with AI

1.
Unanimous decision; majority decision.
Cotrustees who are unable to reach a unanimous decision may act by majority decision.
2.
Vacancy.
If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.
3.
Participation by cotrustee.
Subject to the Maine Uniform Directed Trust Act, a cotrustee shall participate in the performance of a trustee's function unless the cotrustee is unavailable to perform the function because of absence, illness, disqualification or other temporary incapacity or the cotrustee has properly delegated the performance of the function to another trustee.
4.
Cotrustee unavailable.
If a cotrustee is unavailable to perform duties because of absence, illness, disqualification or other temporary incapacity, the remaining cotrustee or a majority of the remaining cotrustees may act for the trust.
5.
Delegation.
A trustee may not delegate to a cotrustee the performance of a function the settlor reasonably expected the trustees to perform jointly. Unless a delegation was irrevocable, a trustee may revoke a delegation previously made.
6.
Liability.
Except as otherwise provided in subsection 7, a trustee who does not join in an action of another trustee is not liable for the action.
7.
Reasonable care.
Subject to the Maine Uniform Directed Trust Act, each trustee shall exercise reasonable care to:
8.
Dissenting trustee.
A dissenting trustee who joins in an action at the direction of the majority of the trustees and who notified in writing any cotrustee of the dissent at or before the time of the action is not liable for the action unless the action is a serious breach of trust.