§ 7780.27. Office of trust director - UDTA 16.

387 words·~2 min read·/pa/title-20/chapter-77/7780-27·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Unless the terms of the trust provide otherwise, the rules applicable to a trustee apply to a trust director regarding the following matters:

(1)Acceptance or declining under section 7761 (relating to accepting or declining trusteeship - UTC 701), except that if a trustee requests in writing that a person designated as a trust director accept that role in writing and the person does not do so in writing within 60 days after receipt of the trustee's request, the person shall be deemed to have rejected the appointment to serve as a trust director.

(2)Giving of bond to secure performance under section 7762 (relating to trustee's bond - UTC 702).

(3)Reasonable compensation under section 7768 (relating to compensation of trustee - UTC 708).

(4)Resignation under section 7765 (relating to resignation of trustee; filing resignation), or upon at least 30 days' advance notice in writing to the qualified beneficiaries of the trust, the settlor if sui juris and all trustees.

(5)Removal under section 7766 (relating to removal of trustee - UTC 706).

(6)Vacancy and appointment of a successor under section 7764 (relating to vacancy in trusteeship; appointment of successor - UTC 704), except that if a trust director does not accept an appointment or there is a vacancy in the position, the powers and duties of the trustee or another trust director shall be determined as if the office of the nonaccepting trust director had not been created.

20c7781h

SUBCHAPTER I

LIABILITY OF TRUSTEES AND RIGHTS

OF PERSONS DEALING WITH TRUSTEES

Sec.

7781. Remedies for breach of trust - UTC 1001.

7782. Damages for breach of trust - UTC 1002.

7783. Damages in absence of breach - UTC 1003.

7784. (Reserved).

7785. Limitation of action against trustee.

7785.1. Nonjudicial account settlement.

7786. Reliance on trust instrument - UTC 1006.

7787. Event affecting administration or distribution - UTC 1007.

7788. Exculpation of trustee - UTC 1008.

7789. Beneficiary's consent, release or ratification - UTC 1009.

7790. Limitation on personal liability of trustee - UTC 1010.

7790.1. Interest as general partner - UTC 1011.

7790.2. Protection of person dealing with trustee - UTC 1012.

7790.3. Certification of trust - UTC 1013.

Cross References. Subchapter I is referred to in sections 7701, 7785.1 of this title.

20c7781s