California Probate Code

§ 16612

PROB § 16612 Effective Jan 1, 2024Div. 9 · Part 4 · Ch. 6

Statute text

(a)Subject to subdivision (b), with respect to a power of direction or further power under subdivision (b) of Section 16608, both of the following apply:

(1)A trust director has the same fiduciary duty and liability in the exercise or nonexercise of the power, if the power is held individually, as a sole trustee in a like position and under similar circumstances or, if the power is held jointly with a trustee or another trust director, as a cotrustee in a like position and under similar circumstances.

(2)The terms of the trust may vary the trust director’s duty or liability to the same extent the terms of the trust could vary the duty or liability of a trustee in a like position and under similar circumstances.

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Legislative history

Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.