ARTICLE 2. Specific Powers of Trustees [16220. - 16249.]

Article 2 enacted by Stats. 1990, Ch. 79.

§§ 16220–16249 · 29 sections

§ 16220 The trustee has the power to collect, hold, and retain trust property received from a settlor or any other person until, in the judgment of the trustee,…
§ 16221 The trustee has the power to accept additions to the property of the trust from a settlor or any other person.
§ 16222 (a) Subject to subdivision (b), the trustee has the power to continue or participate in the operation of any business or other enterprise that is part of the…
§ 16224 (a) In the absence of an express provision to the contrary in a trust instrument, where the instrument directs or permits investment in obligations of the…
§ 16225 (a) The trustee has the power to deposit trust funds at reasonable interest in any of the following accounts: (1) An insured account in a financial…
§ 16226 The trustee has the power to acquire or dispose of property, for cash or on credit, at public or private sale, or by exchange.
§ 16227 The trustee has the power to manage, control, divide, develop, improve, exchange, partition, change the character of, or abandon trust property or any interest…
§ 16228 The trustee has the power to encumber, mortgage, or pledge trust property for a term within or extending beyond the term of the trust in connection with the…
§ 16229 The trustee has the power to do any of the following: (a) Make ordinary or extraordinary repairs, alterations, or improvements in buildings or other trust…
§ 16230 The trustee has the power to do any of the following: (a) Subdivide or develop land. (b) Dedicate land to public use. (c) Make or obtain the vacation of plats…
§ 16231 The trustee has the power to enter into a lease for any purpose as lessor or lessee with or without the option to purchase or renew and for a term within or…
§ 16232 The trustee has the power to enter into a lease or arrangement for exploration and removal of gas, oil, or other minerals or geothermal energy, and to enter…
§ 16233 The trustee has the power to grant an option involving disposition of trust property or to take an option for the acquisition of any property, and an option…
§ 16234 With respect to any shares of stock of a domestic or foreign corporation, any membership in a nonprofit corporation, or any other property, a trustee has the…
§ 16235 The trustee has the power to pay calls, assessments, and any other sums chargeable or accruing against or on account of securities.
§ 16236 The trustee has the power to sell or exercise stock subscription or conversion rights.
§ 16237 The trustee has the power to consent, directly or through a committee or other agent, to the reorganization, consolidation, merger, dissolution, or liquidation…
§ 16238 The trustee has the power to hold a security in the name of a nominee or in other form without disclosure of the trust so that title to the security may pass…
§ 16239 The trustee has the power to deposit securities in a securities depository, as defined in Section 30004 of the Financial Code, which is licensed under Section…
§ 16240 The trustee has the power to insure the property of the trust against damage or loss and to insure the trustee against liability with respect to third persons.
§ 16241 The trustee has the power to borrow money for any trust purpose to be repaid from trust property. The lender may include, but is not limited to, a bank holding…
§ 16242 The trustee has the power to do any of the following: (a) Pay or contest any claim. (b) Settle a claim by or against the trust by compromise, arbitration, or…
§ 16243 The trustee has the power to pay taxes, assessments, reasonable compensation of the trustee and of employees and agents of the trust, and other expenses…
§ 16244 The trustee has the following powers: (a) To make loans out of trust property to the beneficiary on terms and conditions that the trustee determines are fair…
§ 16245 The trustee has the power to pay any sum of principal or income distributable to a beneficiary, without regard to whether the beneficiary is under a legal…
§ 16246 The trustee has the power to effect distribution of property and money in divided or undivided interests and to adjust resulting differences in valuation. A…
§ 16247 The trustee has the power to hire persons, including accountants, attorneys, auditors, investment advisers, appraisers (including probate referees appointed…
§ 16248 The trustee has the power to execute and deliver all instruments which are needed to accomplish or facilitate the exercise of the powers vested in the trustee.
§ 16249 The trustee has the power to prosecute or defend actions, claims, or proceedings for the protection of trust property and of the trustee in the performance of…