Florida Statute 736.1406 - Full Text and Legal Analysis

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 by the terms of the trust.

(3) Unless the terms of a trust provide otherwise:

(a) A trust director may exercise any further power appropriate to the exercise or nonexercise of a power of direction granted to the trust director under subsection (1); and

(b) Trust directors with joint powers must act by majority decision.

History.—s. 17, ch. 2021-183.

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