§815. General powers of trustee
1.
General powers.
A trustee, without authorization by the court, may exercise:
A.
Powers conferred by the terms of the trust; and
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B.
Except as limited by the terms of the trust:
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
(1)
All powers over the trust property that an unmarried competent owner has over individually owned property;
(2)
Any other powers appropriate to achieve the proper investment, management and distribution of the trust property; and
(3)
Any other powers conferred by this Code.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.
Subject to fiduciary duties.
The exercise of a power is subject to the fiduciary duties prescribed by this chapter.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).