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Fla. Stat. § 736.1406 – Florida Statutes

Text of Fla. Stat. § 736.1406

Power of trust director.—

(1) Subject to s. 736.1407, relating to trust directors being subject to the same rules as a trustee regarding Social Security Act reimbursement requirements and charitable trust instruments, the terms of a trust may grant a power of direction to a trust director.

(2) A power of direction includes only those powers granted by the terms of the trust.

(3) Unless the terms of a trust provide otherwise:

(a) A trust director may exercise any further power appropriate to the exercise or nonexercise of a power of direction granted to the trust director under subsection (1); and

(b) Trust directors with joint powers must act by majority decision.

History of Fla. Stat. § 736.1406

Fla. Stat. § 736.1406 became law on July 1, 2021 as part of the Florida Uniform Directed Trust Act. It has not been amended or revised since that date.

Cases Citing Fla. Stat. § 736.1406

Currently, no cases cite or reference Fla. Stat. § 736.1406.