§ 36C-8A-7 – Accepting or declining the appointment as power holder.
36C-8A-7. Accepting or declining the appointment as power holder. (a) A person designated as a power holder accepts the appointment to serve as a power holder: (1) By substantially complying with a method of acceptance provided in the terms of a trust; or (2) If the terms of a trust do not provide a method […]
§ 36C-8A-8 – Vacancy in the office of the power holder.
36C-8A-8. Vacancy in the office of the power holder. (a) If a vacancy occurs in the office of the power holder because the power holder fails or ceases to act for any reason, all of the following apply: (1) If one or more power holders remain in office, a vacancy in the office of the […]
§ 36C-8A-9 – More than one power holder.
36C-8A-9. More than one power holder. When there is more than one power holder authorized to act, and they are unable to reach a unanimous decision, they may act by majority decision. Unanimity is required when only two are authorized to act. (2012-18, s. 3.4.)
§ 36C-8A-1 – "Power holder" defined.
36C-8A-1. "Power holder" defined. (a) For purposes of this Article: (1) The term "power holder" means a person described in subdivision (2) of this subsection that under the terms of a trust has the power to take certain actions with respect to a trust and that is not any of the following: a. A trustee. […]