Relief from duty and liability

A trust instrument may relieve a cotrustee from duty and liability with respect to another cotrustee’s exercise or nonexercise of a power of the other cotrustee to the same extent that a directed trustee is relieved from duty and liability with respect to a trust director’s power of direction under this article. History. — Code 1981, § 53-12-505, enacted by Ga. L. 2018, p. 262, § 25/HB 121. 53-12-506. Statutory provisions applicable to trust directors; defenses available to trust directors; personal jurisdiction; term ‘‘trustee’’ includes trust director where required or permitted. (a) An individual shall be eligible to serve as a trust director regardless of citizenship and residency. If the trust director is a corporation, partnership, or other entity, it shall be required to have the power to act as a trustee in Georgia. (b) The rules applicable to a trustee apply to a trust director regarding: (1) Jurisdiction under Code Section 53-12-6; (2) Appointment and acceptance, compensation, and resignation and removal of trustees under Article 11 of this chapter; (3) Accounting under Article 12 of this chapter; and (4) Nonresidents and foreign entities acting as trustees under Article 15 of this chapter. (c) In an action against a trust director for breach of trust, the trust director may assert the same defenses a trustee in a like position and under similar circumstances could assert in an action for breach of trust against the trustee. (d) By accepting appointment as a trust director of a trust subject to this article, a trust director submits to personal jurisdiction of the 952 53-12-506 courts of this state regarding any matter related to a power or duty of a trust director. This subsection shall not preclude use of another method to obtain jurisdiction over a trust director. (e) As used in this Code, where the context requires or permits, the term ‘‘trustee’’ includes a trust director. History. — Code 1981, § 53-12-506, enacted by Ga. L. 2018, p. 262, § 25/HB 121; Ga. L. 2020, p. 377, § 1-92/HB 865. The 2020 amendment, effective January 1, 2021, added subsections (a) and (e) and redesignated former subsections (a) through (c) as present subsections (b) through (d); in subsection (b), in the introductory language, substituted ‘‘The’’ for ‘‘Except as otherwise provided in the trust instrument, the’’ and deleted ‘‘shall’’ following ‘‘trustee’’, rewrote paragraph (b)(1), which formerly read: ‘‘Appointment and vacancies under Code Section 53-12-201’’, rewrote paragraph (b)(2), which formerly read: ‘‘Acceptance under Code Section 53-12-202’’, rewrote paragraph (b)(3), which formerly read: ‘‘Giving of a bond under Code Section 53-12-203’’, rewrote paragraph (b)(4), which formerly read: ‘‘Co-trustees under Code Section 53-12-204’’, and deleted former paragraphs (b)(5) through (b)(8), which formerly read: ‘‘(5) Compensation and reimbursement of expenses under Code Sections 53-12-210 through 53-12-214; (6) Resignation under Code Section 53-12-220; (7) Removal under Code Section 53-12-221; and (8) Service under Code Section 53-12-320’’. 953 T.53, C.13 T.53, C.13 WILLS, TRUSTS, AND ESTATES CHAPTER 13 REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS Sec. 53-13-16. Disclosures by custodians to agents. 53-13-17. Disclosure by custodians to trustees. 53-13-18. Trustee’s requirements for disclosure by custodian.