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Florida Statutes Title XLII. Estates and Trusts § 736.1406. Power of trust director

Current as of January 01, 2025 | Updated by Findlaw Staff

(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

(b) Trust directors with joint powers must act by majority decision.

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Cite this article: FindLaw.com - Florida Statutes Title XLII. Estates and Trusts § 736.1406. Power of trust director - last updated January 01, 2025 | https://codes.findlaw.com/fl/title-xlii-estates-and-trusts/fl-st-sect-736-1406/

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