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§ 14.5-815. Powers of trustee

West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2016

West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 14.5. Maryland Trust Act (Refs & Annos)
Subtitle 8. Duties and Powers of Trustee (Refs & Annos)
Effective: October 1, 2016
MD Code, Estates and Trusts, § 14.5-815
§ 14.5-815. Powers of trustee
In general
(a) A trustee, without authorization by the court, may exercise:
(1) Powers conferred by the terms of the trust; or
(2) Except as limited by the terms of the trust:
(i) All powers over the trust property that an unmarried competent owner has over individually owned property;
(ii) Other powers appropriate to achieve the proper investment, management, and distribution of the trust property; and
(iii) Other powers conferred by this title or Title 15, Subtitle 6 of this article.
Exercise of power subject to fiduciary duties
(b) The exercise of a power described in subsection (a) of this section is subject to the fiduciary duties prescribed by this title.

Credits

Added by Acts 2014, c. 585, § 1, eff. Jan. 1, 2015. Amended by Acts 2016, c. 364, § 1, eff. Oct. 1, 2016; Acts 2016, c. 365, § 1, eff. Oct. 1, 2016.
MD Code, Estates and Trusts, § 14.5-815, MD EST & TRST § 14.5-815
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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