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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).
Lwa yo, mo pou mo
Certification of trust
Utah Code § 75B-2-1013 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Cotrustees
Utah Code § 75B-2-703 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Vacancy in trusteeship -- Appointment of successor
Utah Code § 75B-2-704 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Duty and liability of directed trustee
Utah Code § 75B-3-109 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Kesyon moun poze souvan
Do Utah cotrustees have to act unanimously?
No. Cotrustees who are unable to reach a unanimous decision may act by majority decision (Utah Code § 75B-2-703).
Is a Utah cotrustee liable for what the other does?
A trustee who does not join in an action of another trustee is not liable for it, but each exercises reasonable care to prevent a cotrustee's serious breach and to compel its redress (Utah Code § 75B-2-703).
What happens when one Utah cotrustee resigns?
The remaining cotrustees act for the trust; the vacancy need not be filled while a cotrustee remains, and is otherwise filled by the terms' designation, the qualified beneficiaries' unanimous agreement or the court (Utah Code § 75B-2-703, § 75B-2-704).
Lekti ki gen rapò
Sant Aprantisaj la se enfòmasyon jeneral sou lwa Utah — se pa konsèy legal, e li pa ranplase konsèy yon avoka Utah ki gen lisans sou reyalite pa ou. TrusteeClear se yon lojisyèl, pa yon kabinè avoka.