West Virginia Code 44D-8A-812 – Application to cotrustee
Current as of: 2023 | Check for updates
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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 §44D-8A-809, §44D-8A-810, and § 44D-8A-811 of this code.
Terms Used In West Virginia Code 44D-8A-812
- Directed trust: means a trust for which the terms of the trust grant a power of direction. See West Virginia Code 44D-8A-802
- Power of direction: means a power over a trust granted to a person by the terms of the trust to the extent the power is exercisable while the person is not serving as a trustee. See West Virginia Code 44D-8A-802
- Trust director: means a person that is granted a power of direction by the terms of a trust to the extent the power is exercisable while the person is not serving as a trustee. See West Virginia Code 44D-8A-802
- Trustee: A person or institution holding and administering property in trust.