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Cotrustees in Tennessee: the majority rule, participation and dissent

Tennessee lets cotrustees who cannot agree act by majority, and says what the trustee who dissented must do to stay clear of a decision. This guide states Tenn. Code Ann. § 35-15-703 part by part.

הטקסט המלא של מדריך זה באנגלית; התקציר שלמעלה בשפתכם. תקצירי החוקים והנוסח האנגלי נשארים המקור המחייב.

Role · 5 דק' קריאה

The majority rule, and participation

Cotrustees who are unable to reach a unanimous decision may act by majority decision (Tenn. Code Ann. § 35-15-703(a)); where a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust ((b)). A cotrustee participates in the performance of a trustee's function unless unavailable because of absence, illness, disqualification or another temporary incapacity, or the cotrustee has properly delegated the function to another trustee ((c)); where a cotrustee is unavailable and prompt action is necessary to achieve the trust's purposes or avoid injury to its property, the remaining cotrustee or a majority of them may act ((d)). A trustee may not delegate to a cotrustee a function the settlor reasonably expected the trustees to perform jointly, but may otherwise delegate and revoke the delegation ((e)).

Dissent, and the duty to prevent a serious breach

A trustee who does not join in an action of another trustee is not liable for it ((f)), but each trustee exercises reasonable care to prevent a cotrustee from committing a serious breach of trust and to compel a cotrustee to redress one ((g)). A dissenting trustee who joins an action at the direction of the majority, and who notified any cotrustee of the dissent at or before the time of the action, is not liable for it unless it is a serious breach of trust ((h)). Each cotrustee keeps the other cotrustees, and the other fiduciaries, reasonably informed about the administration ((i)).

החוקים, מילה במילה

  • הסבר ברור ופשוט; נוסח החוק המילולי טרם אושר בספרייה שלנו. ראו את החוק הרשמי בקישור למעלה.

  • Vacancy in trusteeship; appointment of successor

    Tenn. Code Ann. § 35-15-704 ↗

    הסבר ברור ופשוט; נוסח החוק המילולי טרם אושר בספרייה שלנו. ראו את החוק הרשמי בקישור למעלה.

  • הסבר ברור ופשוט; נוסח החוק המילולי טרם אושר בספרייה שלנו. ראו את החוק הרשמי בקישור למעלה.

שאלות נפוצות

Do Tennessee cotrustees have to agree unanimously?

No. Cotrustees who cannot reach a unanimous decision may act by majority decision (Tenn. Code Ann. § 35-15-703(a)).

How does a Tennessee cotrustee avoid liability for a decision the cotrustee opposed?

By notifying a cotrustee of the dissent at or before the time of the action; the dissenting trustee is then not liable unless the action is a serious breach of trust (Tenn. Code Ann. § 35-15-703(h)) — and every trustee exercises reasonable care to prevent and redress a serious breach ((g)).

Can one Tennessee cotrustee act alone?

Where a vacancy occurs, on a proper delegation, or where a cotrustee is unavailable and prompt action is necessary (Tenn. Code Ann. § 35-15-703(b)–(e)); otherwise the cotrustees act together or by majority.

מרכז הלמידה הוא מידע כללי על חוק טנסי — לא ייעוץ משפטי ולא תחליף לייעוץ מעורך דין מורשה בטנסי על העובדות שלכם. TrusteeClear היא תוכנה, לא משרד עורכי דין.