2015 Maryland Code
ESTATES AND TRUSTS
Title 14.5 - MARYLAND TRUST ACT.
Subtitle 7 - OFFICE OF TRUSTEE.
§ 14.5-703 - Cotrustees.
(a) Vacancies. -- If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.
(b) Participation. -- A cotrustee shall participate in the performance of the function of a trustee unless the cotrustee is unavailable to perform the function because of absence, illness, disqualification under other law, or other temporary incapacity or the cotrustee has properly delegated the performance of the function to another trustee.
(c) Unavailable cotrustee. -- If a cotrustee is unavailable to perform duties because of absence, illness, disqualification under other law, or other temporary incapacity, and prompt action is necessary to achieve the purposes of the trust or to avoid injury to the trust property, the remaining cotrustee or cotrustees may act for the trust.
(d) Delegation of functions. --
(1) A trustee may delegate investment and management functions to a cotrustee as prudent under the circumstances.
(2) Unless a delegation of an investment or management function was irrevocable, a trustee may revoke a delegation previously made.
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