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2019 Nebraska Revised Statutes
Chapter 30 - DECEDENTS' ESTATES; PROTECTION OF PERSONS AND PROPERTY
30-4306 (UDTA 6) Powers of trust director.
Universal Citation: NE Code § 30-4306 (2019)
30-4306. (UDTA 6) Powers of trust director.
(UDTA 6) (a) Subject to section 30-4307, the terms of a trust may grant a power of direction to a trust director.
(b) Unless the terms of a trust provide otherwise:
(1) a trust director may exercise any further power appropriate to the exercise or nonexercise of a power of direction granted to the trust director under subsection (a) of this section; and
(2) trust directors with joint powers must act by majority decision.
(c) A power of direction includes only those powers granted by the terms of the trust and further powers pursuant to subdivision (b)(1) of this section must be appropriate to the exercise or nonexercise of such power of direction granted by the terms of the trust.
Source
- Laws 2019, LB536, ยง 6.
- Effective Date: September 1, 2019
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