Ga. Code § 53-12-502

Current through 2023-2024 Legislative Session Chapter 709
Section 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 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.

OCGA § 53-12-502

Amended by 2020 Ga. Laws 508,§ 1-89, eff. 1/1/2021.
Added by 2018 Ga. Laws 366,§ 25, eff. 7/1/2018.