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Working with others · 5 хв читання
Acting by majority, and participating
Cotrustees who are unable to reach a unanimous decision may act by majority decision (A.R.S. § 14-10703(A)). A cotrustee must participate in the performance of a trustee's function unless unavailable because of absence, illness, disqualification or other temporary incapacity, or unless the function was properly delegated to another trustee; where a cotrustee is unavailable and prompt action is necessary, the remaining cotrustee or a majority of them may act (§ 14-10703(C), (D)). If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust (§ 14-10703(B)).
Delegation between cotrustees
A trustee may delegate to a cotrustee the performance of a function unless the terms of the trust provide that the trustees perform jointly, and may revoke a delegation that was not irrevocable (A.R.S. § 14-10703(E)). A delegation to someone who is not a trustee follows the general rule: reasonable care in selecting the agent, setting the scope and terms and reviewing the agent's performance (§ 14-10807).
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 material breach of trust and to compel a cotrustee to redress one (A.R.S. § 14-10703(F), (G)). A dissenting trustee who joins in an action at the direction of the majority, having notified a cotrustee of the dissent at or before the time of the action, is not liable for it unless the action is a material breach (§ 14-10703(H)).
Powers to direct, the vacancy and the certification of trust
Where the trust makes assets subject to the direction of a cotrustee or another person, the directed trustee has no duty to review the directions and is not liable for acting on them except in bad faith or with reckless indifference (A.R.S. § 14-10808(B)). A vacancy need not be filled while a cotrustee remains, and must be filled when no trustee remains — by the instrument's designee, then the qualified beneficiaries' unanimous choice, then the court (§ 14-10704). A certification of trust states the authority of cotrustees to sign and whether all or fewer than all are required to exercise the trustee's powers, and any trustee may sign it (§ 14-11013).
Закони, дослівно
Cotrustees
A.R.S. § 14-10703 ↗Зрозуміле просте пояснення; дослівний текст статуту ще не засвідчено в нашій бібліотеці. Дивіться офіційний статут за посиланням вище.
Vacancy in trusteeship; appointment of successor
A.R.S. § 14-10704 ↗Зрозуміле просте пояснення; дослівний текст статуту ще не засвідчено в нашій бібліотеці. Дивіться офіційний статут за посиланням вище.
Powers to direct
A.R.S. § 14-10808 ↗Зрозуміле просте пояснення; дослівний текст статуту ще не засвідчено в нашій бібліотеці. Дивіться офіційний статут за посиланням вище.
Certification of trust
A.R.S. § 14-11013 ↗Зрозуміле просте пояснення; дослівний текст статуту ще не засвідчено в нашій бібліотеці. Дивіться офіційний статут за посиланням вище.
Поширені запитання
Do Arizona cotrustees have to agree unanimously?
No. Cotrustees who are unable to reach a unanimous decision may act by majority decision (A.R.S. § 14-10703(A)); a trust's own terms may require joint action.
Is an Arizona cotrustee liable for what another cotrustee does?
A trustee who does not join in the action is not liable for it, but each exercises reasonable care to prevent and redress a cotrustee's material breach (A.R.S. § 14-10703(F), (G)).
What happens when one Arizona cotrustee dies or resigns?
The remaining cotrustees may act for the trust, and the vacancy need not be filled while a cotrustee remains in office (A.R.S. § 14-10703(B), § 14-10704(B)).
За темою
Навчальний центр — це загальна інформація про закони Аризони, а не юридична консультація і не заміна пораді ліцензованого юриста Аризони щодо ваших конкретних фактів. TrusteeClear — це програма, а не юридична фірма.