Section 7780.16 - Trust director for investmentsThe explicit appointment by the terms of a trust of a "trust director for investments," accompanied by a citation to this section, grants to the trust director the following powers unless the terms of the trust provide otherwise:
(1) To direct the trustee, or veto the trustee's recommendations, as to the investment of the trust's assets.(2) To direct the trustee, or veto the trustee's recommendations, as to the voting of proxies and the exercise of other voting powers associated with the trust's assets.(3) To select, change and determine reasonable compensation of one or more investment advisors or managers, and authorize or engage them to perform any of the investment duties of a trustee or trust director.(4) To determine the frequency and methodology for valuing trust assets.(5) To exercise, or veto the trustee's exercise of, any other investment power the trustee has or might have.(6) To perform other acts relating to the investment of the trust's assets as the terms of the trust specify.Added by P.L. (number not assigned at time of publication) 2024 No. 64,§ 7, eff. 10/14/2024.