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Terms Used In Maine Revised Statutes Title 18-B Sec. 2112

  • Trustee: A person or institution holding and administering property in trust.
The terms of a trust 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 in a directed trust a directed trustee is relieved from duty and liability with respect to a trust director’s power of direction under sections 2109 to 2111. [PL 2019, c. 301, §8 (NEW).]
SECTION HISTORY

PL 2019, c. 301, §8 (NEW).