Maine Revised Statutes

§815. General powers of trustee

1. General powers.  A trustee, without authorization by the court, may exercise:
A. Powers conferred by the terms of the trust; and [2003, c. 618, Pt. A, §1 (NEW); 2003, c. 618, Pt. A, §2 (AFF).]
B. Except as limited by the terms of the trust:
(1) All powers over the trust property that an unmarried competent owner has over individually owned property;
(2) Any other powers appropriate to achieve the proper investment, management and distribution of the trust property; and
(3) Any other powers conferred by this Code. [2003, c. 618, Pt. A, §1 (NEW); 2003, c. 618, Pt. A, §2 (AFF).]
[ 2003, c. 618, Pt. A, §1 (NEW); 2003, c. 618, Pt. A, §2 (AFF) .]
2. Subject to fiduciary duties.  The exercise of a power is subject to the fiduciary duties prescribed by this chapter.
[ 2003, c. 618, Pt. A, §1 (NEW); 2003, c. 618, Pt. A, §2 (AFF) .]
SECTION HISTORY
2003, c. 618, §A1 (NEW). 2003, c. 618, §A2 (AFF).