Pennsylvania Statutes

§ 7763 — Cotrustees - UTC 703

Pennsylvania·Title 20 DECEDENTS, ESTATES AND FIDUCIARIES·Ch. 77 TRUSTS·Subch. OFFICE OF TRUSTEE
(a)Majority decision.--Cotrustees who do not reach a unanimous decision may act by majority decision. (a.1) When no majority.--When a dispute arises among trustees as to the exercise or nonexercise of any of their powers and there is no agreement by a majority of them, unless otherwise provided by the terms of the trust, the court in its discretion, upon petition filed by any of the trustees or any party in interest, aided if necessary by the report of a master, may direct the exercise or nonexercise of the power as it deems necessary for the best interest of the trust.
(b)Vacancy.--If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.
(c)Performance.--Subject to section 7780.23 (relating to application to cotrustee - UDTA 12), a cotrustee shall part

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Legislative History

(July 15, 2024, P.L.786, No.64, eff. 90 days) 2024 Amendment.Act 64 amended subsecs. (a.1), (c) and (g). See section 11 of Act 64 in the appendix to this title for special provisions relating to Uniform Trust Code.

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