P.R. Laws tit. 32, § 3352s

2019-02-20 00:00:00+00

§ 3352s. Exercise of powers when there is more than one trustee

If a trust has more than one trustee, all trustees must exercise the powers conferred, except as otherwise provided in the trust instrument. However, if the co-trustees fail to reach unanimous agreements, co-trustees may act according to the majority.

If one or more of them rejects the designation, or for whatever reason ceases to be a trustee after having accepted the trusteeship, powers shall be exercised by the remaining trustee or trustees until a successor is designated in accordance with Section 19, except as otherwise provided in the terms of the trust.

History —Aug. 31, 2012, No. 219, § 26.