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  1. 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:

      1. All powers over the trust property which 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 chapter.
  2. The exercise of a power is subject to the fiduciary duties prescribed by this part.