Section 36C-8-808 - Powers of a settlor to take certain actions with respect to the trustWhile a trust is revocable, the settlor of a revocable trust has, at all times, the power to direct or consent to the actions of the trustee whether or not the power is conferred upon the settlor by the terms of the trust. The duty and liability of the trustee subject to the direction and consent of the settlor is as follows:
(1) The trustee may follow a direction of the settlor that is not authorized by or is contrary to the terms of the trust, even if by doing so (i) the trustee exceeds the authority granted to the trustee under the terms of the trust, or (ii) the trustee would otherwise violate a duty the trustee owes under the trust.(2) The trustee is not liable, individually or as a fiduciary, for any loss resulting directly or indirectly from compliance with the direction. If the settlor requires the settlor's consent to certain actions of the trustee, and the settlor does not provide consent within a reasonable time after the trustee has made a timely request for the settlor's consent, the trustee is not liable, individually or as a fiduciary, for any loss resulting directly or indirectly from the trustee's failure to take any action that required the settlor's consent.N.C. Gen. Stat. § 36C-8-808
Amended by 2012 N.C. Sess. Laws 18,s. 3.1, eff. 6/11/2012.Amended by 2007 N.C. Sess. Laws 106,s. 34, eff. 10/1/2007.Added by 2005 N.C. Sess. Laws 192, s. 2, eff. 1/1/2006.