Serving with cotrustees in Utah

Acting by majority, and participating

Cotrustees who are unable to reach a unanimous decision may act by majority decision (Utah Code § 75B-2-703). Each cotrustee participates in the performance of a trustee's function unless unavailable through absence, illness, disqualification or other temporary incapacity, or the function was properly delegated to another trustee; where a cotrustee is unavailable, or fails or refuses to act after reasonable notice, and prompt action is necessary, the remaining cotrustee or a majority of them may act. The remaining cotrustees act for the trust when a vacancy occurs.

Delegation between cotrustees

A trustee may not delegate to a cotrustee a function the settlor intended the trustees to perform jointly; unless a delegation was irrevocable, a trustee may revoke it (Utah Code § 75B-2-703). A delegation of investment functions by individual cotrustees to a regulated financial service institution is presumed to be in accordance with the settlor's intent. A cotrustee who delegates stays responsible for the care with which the delegation was made and reviewed (§ 75B-2-814(2)).

Dissent and liability

A trustee who does not join in an action of another trustee is not liable for the action, 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 (Utah Code § 75B-2-703). A dissenting trustee who joins in an action at the direction of the majority, after notifying a cotrustee of the dissent, is not liable for the action unless it is a serious breach of trust. Where more than one trustee is liable for a breach, a trustee is entitled to contribution from the others unless substantially more at fault (§ 75B-2-1002).

The directed trust, the vacancy and the certification of trust

Where the terms grant a power of direction to a trust director, the directed trustee takes reasonable action to comply with the director's direction and is not liable for it except where compliance would be willful misconduct (Utah Code § 75B-3-109); the terms may relieve a cotrustee from duty and liability for another cotrustee's exercise of a power to the same extent (§ 75B-3-112). A vacancy among cotrustees need not be filled while a cotrustee remains, and is filled by the terms' designation, the qualified beneficiaries' unanimous agreement or the court (§ 75B-2-704). A certification of trust states which cotrustees may sign and whether all or fewer than all are required (§ 75B-2-1013).

החוקים, מילה במילה

• Certification of trust

  Utah Code § 75B-2-1013 ↗

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

• Cotrustees

  Utah Code § 75B-2-703 ↗

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

• Vacancy in trusteeship -- Appointment of successor

  Utah Code § 75B-2-704 ↗

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

• Duty and liability of directed trustee

  Utah Code § 75B-3-109 ↗

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

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