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2019 Nebraska Revised Statutes
Chapter 30 - DECEDENTS' ESTATES; PROTECTION OF PERSONS AND PROPERTY
30-3880 (UTC 815) General powers of trustee.
Universal Citation: NE Code § 30-3880 (2019)
30-3880. (UTC 815) General powers of trustee.
(UTC 815) (a) A trustee, without authorization by the court, may exercise:
(1) powers conferred by the terms of the trust; and
(2) except as limited by the terms of the trust:
(A) all powers over the trust property which an unmarried competent owner has over individually owned property;
(B) any other powers appropriate to achieve the proper investment, management, and distribution of the trust property; and
(C) any other powers conferred by the Nebraska Uniform Trust Code.
(b) The exercise of a power is subject to the fiduciary duties prescribed by sections 30-3866 to 30-3882.
(c) The changes made to this section by Laws 2019, LB593, shall apply retroactively to August 30, 2015.
Source
- Laws 2003, LB 130, § 80;
- Laws 2015, LB72, § 1;
- Laws 2017, LB268, § 4;
- Laws 2019, LB593, § 2.
- Effective Date: May 31, 2019
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