(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.
Structure Florida Statutes
Title XLII - Estates and Trusts
Chapter 736 - Florida Trust Code
Part XIV - Florida Uniform Directed Trust Act (Ss. 736.1401-736.1416)
736.1403 - Application; principal place of administration.
736.1406 - Power of trust director.
736.1407 - Limitations on trust director.
736.1408 - Duty and liability of trust director.
736.1409 - Duty and liability of directed trustee.
736.141 - Duty to provide information.
736.1411 - No duty to monitor, inform, or advise.
736.1412 - Application to cotrustee.
736.1413 - Limitation of action against trust director.
736.1414 - Defenses in action against trust director.