§ 53-12-262. Powers of Corporate Fiduciaries
A corporate fiduciary, without authorization by the court, may exercise the power: To retain stock or other securities of its own issue received on the creation of the trust or later contributed to the trust, including the securities into which the securities originally received or contributed may be converted or which may be derived therefrom […]
§ 53-12-263. Incorporation of Powers by Reference
By an expressed intention of the testator or settlor contained in a will or in a trust instrument in writing whereby an express trust is created, any or all of the powers or any portion thereof enumerated in this part, as they exist at the time of the signing of the will by the testator […]
§ 53-12-264. Granting of Powers by Qualified Beneficiaries
The qualified beneficiaries of a trust that omits any of the powers in Code Section 53-12-261 may by unanimous consent authorize but not require the court to grant to the trustee those powers. History. Code 1981, § 53-12-264 , enacted by Ga. L. 2010, p. 579, § 1/SB 131; Ga. L. 2018, p. 262, § […]
§ 53-12-260. Discretionary Powers
Notwithstanding the breadth of discretion granted to a trustee in the trust instrument, including the use of such terms as “absolute,” “sole,” or “uncontrolled,” the trustee shall exercise a discretionary power in good faith. History. Code 1981, § 53-12-260 , enacted by Ga. L. 2010, p. 579, § 1/SB 131. Law reviews. For annual survey […]
§ 53-12-261. Powers of Trustee; Limitation Based on Fiduciary Duties
A trustee of an express trust, without court authorization, shall be authorized to exercise: Powers conferred by the trust instrument; and Except as limited by the trust instrument: All powers over the trust property that an unmarried competent owner has over individually owned property; Any other powers appropriate to achieve the proper investment, management, and […]