736.1405 – Exclusions.
736.1405 Exclusions.— (1) As used in this section, the term “power of appointment” means a power that enables a person acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over trust property. (2) Unless the terms of a trust expressly provide otherwise by specific reference to this part, […]
736.1406 – Power of trust director.
736.1406 Power of trust director.— (1) Subject to s. 736.1407, relating to trust directors being subject to the same rules as a trustee regarding Social Security Act reimbursement requirements and charitable trust instruments, the terms of a trust may grant a power of direction to a trust director. (2) A power of direction includes only those powers granted […]
736.1407 – Limitations on trust director.
736.1407 Limitations on trust director.—A trust director is subject to the same rules as a trustee in a like position and under similar circumstances in the exercise or nonexercise of a power of direction or further power under s. 736.1406(3)(a), relating to additional power granted to a trust director in furtherance of an express power of […]
736.1408 – Duty and liability of trust director.
736.1408 Duty and liability of trust director.— (1) Subject to subsection (2), with respect to a power of direction or further power under s. 736.1406(3)(a), relating to additional power granted to a trust director in furtherance of an express power of direction: (a) A trust director has the same fiduciary duty and liability in the exercise or nonexercise […]
736.1409 – Duty and liability of directed trustee.
736.1409 Duty and liability of directed trustee.— (1) Subject to subsection (2), a directed trustee shall take reasonable action to comply with a trust director’s exercise or nonexercise of a power of direction or further power under s. 736.1406(3)(a), relating to additional power granted to a trust director in furtherance of an express power of direction, and […]
736.141 – Duty to provide information.
736.141 Duty to provide information.— (1) Subject to s. 736.1411, relating to limitations on the duties of trustees or trust directors to monitor, inform, or advise on matters involving the other, a trustee shall provide information to a trust director to the extent the information is reasonably related to the powers or duties of the trust director. […]
736.1411 – No duty to monitor, inform, or advise.
736.1411 No duty to monitor, inform, or advise.— (1) Notwithstanding s. 736.1409(1), relating to the duty of a directed trustee to take reasonable action when directed and to the release of liability for such action, unless the terms of a trust provide otherwise: (a) A trustee does not have a duty to: 1. Monitor a trust director; or 2. Inform […]
736.1412 – Application to cotrustee.
736.1412 Application to cotrustee.— (1) The terms of a trust may provide for the appointment of more than one trustee but confer upon one or more of the trustees, to the exclusion of the others, the power to direct or prevent specified actions of the trustees. (2) The excluded trustees shall act in accordance with the exercise of […]
736.1209 – Election to come under this part.
736.1209 Election to come under this part.—With the consent of that organization or organizations, a trustee of a trust for the benefit of a public charitable organization or organizations may come under s. 736.1208(5) by delivery of notice to the Attorney General of the election, accompanied by the proof of required consent. Thereafter the trust shall […]
736.1413 – Limitation of action against trust director.
736.1413 Limitation of action against trust director.— (1) An action against a trust director for breach of trust must be commenced within the same limitation period for an action for breach of trust against a trustee in a like position and under similar circumstances under s. 736.1008, relating to limitations on proceedings against trustees. (2) A trust accounting […]