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Current as of January 01, 2025 | Updated by Findlaw Staff
The explicit appointment by the terms of a trust of a “trust director for investments,” accompanied by a citation to this section, grants to the trust director the following powers unless the terms of the trust provide otherwise:
(1) To direct the trustee, or veto the trustee's recommendations, as to the investment of the trust's assets.
(2) To direct the trustee, or veto the trustee's recommendations, as to the voting of proxies and the exercise of other voting powers associated with the trust's assets.
(3) To select, change and determine reasonable compensation of one or more investment advisors or managers, and authorize or engage them to perform any of the investment duties of a trustee or trust director.
(4) To determine the frequency and methodology for valuing trust assets.
(5) To exercise, or veto the trustee's exercise of, any other investment power the trustee has or might have.
(6) To perform other acts relating to the investment of the trust's assets as the terms of the trust specify.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 20 Pa.C.S.A. Decedents, Estates and Fiduciaries § 7780.16. Trust director for investments - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-20-pacsa-decedents-estates-and-fiduciaries/pa-csa-sect-20-7780-16/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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