LD 921
pg. 37
Page 36 of 58 PUBLIC Law Chapter 618 Page 38 of 58
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LR 466
Item 1

 
Without limiting the authority conferred by section 815, a trustee
may:

 
1.__Collect trust__property.__Collect trust property and
accept or reject additions to the trust property from a settlor
or any other person;

 
2.__Acquire or sell property.__Acquire or sell property, for
cash or on credit, at public or private sale;

 
3.__Change character of trust property.__Exchange, partition
or otherwise change the character of trust property;

 
4.__Deposit trust money.__Deposit trust money in an account in
a regulated financial service institution;

 
5.__Borrow money; pledge trust property.__Borrow money, with
or without security, and mortgage or pledge trust property for a
period within or extending beyond the duration of the trust;

 
6.__Continue business or enterprise.__With respect to an
interest in a proprietorship, partnership, limited liability
company, business trust, corporation or other form of business or
enterprise, continue the business or other enterprise and take
any action that may be taken by shareholders, members or property
owners, including merging, dissolving or otherwise changing the
form of business organization or contributing additional capital;

 
7.__Exercise rights of owner.__With respect to stocks or other
securities, exercise the rights of an absolute owner, including
the right to:

 
A.__Vote, or give proxies to vote, with or without power of
substitution, or enter into or continue a voting trust
agreement;

 
B.__Hold a security in the name of a nominee or in other
form without disclosure of the trust so that title may pass
by delivery;

 
C.__Pay calls, assessments and other sums chargeable or
accruing against the securities, and sell or exercise stock
subscription or conversion rights; and

 
D.__Deposit the securities with a depositary or other
regulated financial service institution;

 
8.__Improvements.__With respect to an interest in real
property, construct or make ordinary or extraordinary repairs to,


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