2013 Maine Revised Statutes
TITLE 18-B: TRUSTS
Chapter 8: DUTIES AND POWERS OF TRUSTEE
18-B §815. General powers of trustee

Part 1: MAINE UNIFORM TRUST CODE HEADING: PL 2003, C. 618, PT. A, §1 (NEW); §2 (AFF) EFFECTIVE 7/1/05

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 [2003, c. 618, Pt. A, 1 (NEW); 2003, c. 618, Pt. A, 2 (AFF).]

B. Except as limited by the terms of the trust:

(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. [2003, c. 618, Pt. A, 1 (NEW); 2003, c. 618, Pt. A, 2 (AFF).]

[ 2003, c. 618, Pt. A, 1 (NEW); 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.

[ 2003, c. 618, Pt. A, 1 (NEW); 2003, c. 618, Pt. A, 2 (AFF) .]

SECTION HISTORY

2003, c. 618, A1 (NEW). 2003, c. 618, A2 (AFF).