| | 7.__Act in best interests of beneficiaries.__In voting shares | of stock or in exercising powers of control over similar | interests in other forms of enterprise, the trustee shall act in | the best interests of the beneficiaries. If the trust is the sole | owner of a corporation or other form of enterprise, the trustee | shall elect or appoint directors or other managers who will | manage the corporation or enterprise in the best interests of the | beneficiaries. |
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| | 8.__Transactions not precluded.__This section does not | preclude the following transactions, if fair to the | beneficiaries: |
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| A.__An agreement between a trustee and a beneficiary | relating to the appointment or compensation of the trustee; |
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| B.__Payment of reasonable compensation to the trustee; |
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| C.__A transaction between a trust and another trust or a | decedent's estate, a conservatorship or a guardianship of | which the trustee is a fiduciary or in which a beneficiary | has an interest; |
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| D.__A deposit of trust money in a regulated financial | service institution operated by the trustee; or |
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| E.__An advance by the trustee of money for the protection of | the trust. |
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| | 9.__Appointment of special fiduciary.__The court may appoint a | special fiduciary to make a decision with respect to any proposed | transaction that might violate this section if entered into by | the trustee. |
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| | If a trust has 2 or more beneficiaries, the trustee shall act | impartially in investing, managing and distributing the trust | property, giving due regard to the beneficiaries' respective | interests. |
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| §804.__Prudent administration |
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| | A trustee shall administer the trust as a prudent person | would, by considering the purposes, terms, distributional | requirements and other circumstances of the trust.__In satisfying | this standard, the trustee shall exercise reasonable care, skill | and caution. |
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| §805.__Costs of administration |
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