(a) Cotrustees who are unable to reach a unanimous decision after consultation among all the cotrustees may act by majority decision.
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Terms Used In Hawaii Revised Statutes 554D-703

  • Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein. See Hawaii Revised Statutes 554D-103
  • Settlor: means a person, including a testator, who creates, or contributes property to, a trust. See Hawaii Revised Statutes 554D-103
  • Trustee: A person or institution holding and administering property in trust.
  • Trustee: includes an original, additional, and successor trustee, and a cotrustee. See Hawaii Revised Statutes 554D-103
(b) If a vacancy occurs in a cotrusteeship, the remaining cotrustee or cotrustees may act for the trust.
(c) Subject to the settlor‘s powers to direct under section -808, a cotrustee shall participate in the performance of a trustee‘s function unless the cotrustee is unavailable to perform the function because of absence, illness, disqualification under other law, or other temporary incapacity, or the cotrustee has properly delegated the performance of the function to another trustee.
(d) If a cotrustee is unavailable to perform duties because of absence, illness, disqualification under other law, or other temporary incapacity, and prompt action is necessary to achieve the purposes of the trust or to avoid injury to the trust property, the remaining cotrustee or a majority of the remaining cotrustees may act for the trust.
(e) A cotrustee who has a conflict of interest in performing any duty shall notify the other cotrustee or cotrustees of the conflict and may recuse itself from the transaction and the remaining cotrustee or a majority of the remaining cotrustees may act for the trust.
(f) A trustee shall not delegate to a cotrustee the performance of a function the settlor intended the trustees to perform jointly. A trustee may revoke a delegation previously made.
(g) Except as otherwise provided in subsection (h), a trustee who does not join in an action of another trustee is not liable for the action.
(h) Subject to the settlor’s powers to direct under section -808, each trustee shall exercise reasonable care to:

(1) Prevent a cotrustee from committing a serious breach of trust; and
(2) Compel a cotrustee to redress a serious breach of trust.
(i) A dissenting trustee who joins in an action at the direction of the majority of the trustees and who notified the cotrustee or cotrustees in writing of the dissent at or before the time of the action shall not be liable for the action unless the action is a serious breach of trust.

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