Connecticut General Statutes 45a-500p – Office of trust director
Current as of: 2023 | Check for updates
|
Other versions
Unless the terms of a trust provide otherwise, the rules applicable to a trustee apply to a trust director regarding the following matters:
Terms Used In Connecticut General Statutes 45a-500p
- Terms of a trust: means :
(A) Except as otherwise provided in subparagraph (B) of this subdivision, the manifestation of the settlor's intent regarding a trust's provisions as:
(i) Expressed in the trust instrument. See Connecticut General Statutes 45a-499c
- Trust director: means a person that is granted a power of direction by the terms of a trust to the extent the power is exercisable while the person is not serving as a trustee, provided a person is a trust director whether or not the terms of the trust refer to the person as a trust director and whether or not the person is a beneficiary or settlor of the trust. See Connecticut General Statutes 45a-499c
(1) Acceptance under § 45a-499rr;
(2) Giving of bond to secure performance under § 45a-499ss;
(3) Reasonable compensation under § 45a-499yy;
(4) Resignation under § 45a-499vv;
(5) Removal under § 45a-499ww; and
(6) Vacancy and appointment of successor under § 45a-499uu.