Tennessee § 35-16-108 Qualified trustees and advisors

Tennessee Statutes

§ 35-16-108 — Qualified trustees and advisors

Tennessee § 35-16-108

Title35

This text of Tennessee § 35-16-108 (Qualified trustees and advisors) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 35-16-108 (2026).

Text

(a)For purposes of this chapter, neither the transferor nor any other natural person who is a nonresident of this state nor an entity that is not authorized by the law of this state to act as a trustee or whose activities are not subject to supervision as provided in § 35-16-102(12)(A) shall be considered a qualified trustee; however, nothing in this chapter shall preclude a transferor from appointing one (1) or more advisors, including, but not limited to:

(1)Advisors who have authority under the terms of the trust instrument to remove and appoint qualified trustees or trust advisors;

(2)Advisors who have authority under the terms of the trust instrument to direct, consent to or disapprove distributions from the trust; and (3) Investment advisors, whether or not the advisors would meet

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(a) For purposes of this chapter, neither the transferor nor any other natural person who is a nonresident of this state nor an entity that is not authorized by the law of this state to act as a trustee or whose activities are not subject to supervision as provided in § 35-16-102(12)(A) shall be considered a qualified trustee; however, nothing in this chapter shall preclude a transferor from appointing one (1) or more advisors, including, but not limited to: (1) Advisors who have authority under the terms of the trust instrument to remove and appoint qualified trustees or trust advisors; (2) Advisors who have authority under the terms of the trust instrument to direct, consent to or disapprove distributions from the trust; and (3) Investment advisors, whether or not the advisors would meet the requirements imposed by § 35-16-102(12) . (b) For purposes of subsection (a), "advisor" includes a trust "protector" or any other person who, in addition to a qualified trustee, holds one (1) or more trust powers.