Title 18-B: TRUSTS

Part 1: MAINE UNIFORM TRUST CODE

Chapter 8: DUTIES AND POWERS OF TRUSTEE

§815. General powers of trustee

1.  General powers.  A trustee, without authorization by the court, may exercise:  

A. Powers conferred by the terms of the trust; and   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]

B. Except as limited by the terms of the trust:  

(1) All powers over the trust property that 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 Code.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]

[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]

2.  Subject to fiduciary duties.  The exercise of a power is subject to the fiduciary duties prescribed by this chapter.  

[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]

SECTION HISTORY

PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).