New Hampshire Revised Statutes 564-B:12-1207 – Office of the Trust Advisor or Trust Protector
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(a) A trust advisor or trust protector is subject to the same rules to which a sole trustee would be subject under this chapter in the same circumstances with respect to the following:
(1) Accepting or declining his, her, or its appointment;
(2) Vacancy and appointment of a successor;
(3) Resignation;
(4) Removal; and
(5) Compensation.
(b) A trust advisor or trust protector shall not have an obligation to give bond to secure performance of his, her, or its duties.
(c) Subject to this article 12, a trust advisor or trust protector is subject to the same rules as a sole trustee would be subject under this chapter in the same circumstances with respect to exoneration and indemnification.
(1) Accepting or declining his, her, or its appointment;
Terms Used In New Hampshire Revised Statutes 564-B:12-1207
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Trustee: A person or institution holding and administering property in trust.
(2) Vacancy and appointment of a successor;
(3) Resignation;
(4) Removal; and
(5) Compensation.
(b) A trust advisor or trust protector shall not have an obligation to give bond to secure performance of his, her, or its duties.
(c) Subject to this article 12, a trust advisor or trust protector is subject to the same rules as a sole trustee would be subject under this chapter in the same circumstances with respect to exoneration and indemnification.