Florida Statutes 736.1406 – Power of trust director
Current as of: 2023 | Check for updates
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(1) Subject to s. 736.1407, relating to trust directors being subject to the same rules as a trustee regarding Social Security Act reimbursement requirements and charitable trust instruments, the terms of a trust may grant a power of direction to a trust director.
(2) A power of direction includes only those powers granted by the terms of the trust.
(3) Unless the terms of a trust provide otherwise:
(a) A trust director may exercise any further power appropriate to the exercise or nonexercise of a power of direction granted to the trust director under subsection (1); and
Terms Used In Florida Statutes 736.1406
- Trustee: A person or institution holding and administering property in trust.
(b) Trust directors with joint powers must act by majority decision.