TITLE 53 WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES

Section 12. (Revised Trust Code of 2010) Trusts, 53-12-1 through 53-12-506.

ARTICLE 18 TRUST DIRECTORS

53-12-501. Application of article; construction of trust instrument.

1. This article shall apply when the trust instrument evidences the settlor's intent to provide for the office and function of a trust director, regardless of the terms used to describe such office and functions.
2. This article shall not apply to:
   1. A power of appointment;
   2. A power to appoint or remove a trustee or trust director;
   3. A power of a settlor to revoke the trust or amend the trust instrument;
   4. A power of a beneficiary over a trust to the extent the exercise or nonexercise of the power affects the beneficial interest of the beneficiary or a person represented by the beneficiary under Code Section 53-12-8 with respect to the exercise or nonexercise of the power; or
   5. A power over a trust if:
      1. The terms of the trust provide such power is held in a nonfiduciary capacity; and
      2. Such power must be held in a nonfiduciary capacity to achieve the settlor's tax objectives.
3. Except as otherwise provided in the trust instrument, for purposes of this Code section a power that is both a power of appointment and a power of direction shall be deemed a power of appointment and not a power of direction.

(Code 1981, §53-12-501, enacted by Ga. L. 2018, p. 262, § 25/HB 121.)