14-10816

14-10816. Specific powers of trustee

Without limiting the authority conferred by section 14-10815, a trustee may:

1. Collect trust property and accept or reject additions to the trust property from
a settlor or any other person.

2. Acquire or sell property, for cash or on credit, at public or private sale.

3. Exchange, partition or otherwise change the character of trust property.

4. Deposit trust money in an account in a regulated financial service institution.

5. Borrow money, with or without security, and mortgage or pledge trust property
for a period within or extending beyond the duration of the trust.

6. With respect to an interest in a proprietorship, partnership, limited liability
company, business trust, corporation or other form of business or enterprise, continue
the business or other enterprise and take any action that may be taken by shareholders,
members or property owners, including merging, dissolving or otherwise changing the form
of business organization or contributing additional capital.

7. With respect to stocks or other securities, exercise the rights of an absolute
owner, including the right to:

(a) Vote, give proxies to vote, with or without power of substitution, or enter
into or continue a voting trust agreement.

(b) Hold a security in the name of a nominee or in other form without disclosure of
the trust so that title may pass by delivery.

(c) Pay calls, assessments and other sums chargeable or accruing against the
securities and sell or exercise stock subscription or conversion rights.

(d) Deposit the securities with a depositary or other regulated financial service
institution.

8. With respect to an interest in real property, construct or make ordinary or
extraordinary repairs to, alterations to or improvements in buildings or other
structures, demolish improvements, raze existing or erect new party walls or buildings,
subdivide or develop land, dedicate land to public use or grant public or private
easements and make or vacate plats and adjust boundaries.

9. Enter into a lease for any purpose as lessor or lessee, including a lease or
other arrangement for exploration and removal of natural resources, with or without the
option to purchase or renew, for a period within or extending beyond the duration of the
trust.

10. Grant an option involving a sale, lease or other disposition of trust property
or acquire an option for the acquisition of property, including an option exercisable
beyond the duration of the trust, and exercise an option so acquired.

11. Insure the property of the trust against damage or loss and insure the trustee,
the trustee's agents and beneficiaries against liability arising from the administration
of the trust.

12. Abandon or decline to administer property of no value or of insufficient value
to justify its collection or continued administration.

13. With respect to possible liability for violation of environmental law:

(a) Inspect or investigate property the trustee holds or has been asked to hold, or
property owned or operated by an organization in which the trustee holds or has been
asked to hold an interest, for the purpose of determining the application of
environmental law with respect to the property.

(b) Take action to prevent, abate or otherwise remedy any actual or potential
violation of any environmental law affecting property held directly or indirectly by the
trustee, whether taken before or after the assertion of a claim or the initiation of
governmental enforcement.

(c) Decline to accept property into trust or disclaim any power with respect to
property that is or may be burdened with liability for violation of environmental law.

(d) Compromise claims against the trust that may be asserted for an alleged
violation of environmental law.

(e) Pay the expense of any inspection, review, abatement or remedial action to
comply with environmental law.

14. Pay or contest any claim, settle a claim by or against the trust and release in
whole or in part a claim belonging to the trust.

15. Pay taxes, assessments, compensation of the trustee and of employees and agents
of the trust and other expenses incurred in the administration of the trust.

16. Exercise elections with respect to federal, state and local taxes.

17. Select a mode of payment under any employee benefit or retirement plan, annuity
or life insurance payable to the trustee, exercise rights thereunder, including exercise
of the right to indemnification for expenses and against liabilities, and take
appropriate action to collect the proceeds.

18. Make loans out of trust property, including loans to a beneficiary on terms and
conditions the trustee considers to be fair and reasonable under the circumstances, and
the trustee has a lien on future distributions for repayment of those loans.

19. Pledge trust property to guarantee loans made by others to the beneficiary.

20. Appoint a trustee to act in another jurisdiction with respect to trust property
located in the other jurisdiction, confer on the appointed trustee all of the powers and
duties of the appointing trustee, require that the appointed trustee furnish security and
remove any trustee so appointed.

21. Pay an amount distributable to a beneficiary who is under a legal disability or
who the trustee reasonably believes is incapacitated, by paying it directly to the
beneficiary or applying it for the beneficiary's benefit, or by either:

(a) Paying it to the beneficiary's conservator or, if the beneficiary does not have
a conservator, the beneficiary's guardian.

(b) Paying it to the beneficiary's custodian under the uniform transfers to minors
act or custodial trustee under the uniform custodial trust act, and, for that purpose,
creating a custodianship or custodial trust.

(c) If the trustee does not know of a conservator, guardian, custodian or custodial
trustee, paying it to an adult relative or other person having legal or physical care or
custody of the beneficiary to be expended on the beneficiary's behalf.

(d) Managing it as a separate fund on the beneficiary's behalf, subject to the
beneficiary's continuing right to withdraw the distribution.

22. On distribution of trust property or the division or termination of a trust,
make distributions in divided or undivided interests, allocate particular assets,
including community property, in proportionate or disproportionate shares, value the
trust property for those purposes and adjust for resulting differences in valuation. In
making a division or distribution of community property held in trust, the trustee may
consider community property held outside the trust so that the division of community
property held in the trust and outside of the trust is made based on equal value but not
necessarily proportionately.

23. Resolve a dispute concerning the interpretation of the trust or its
administration by mediation, arbitration or other procedure for alternative dispute
resolution.

24. Prosecute or defend an action, claim or judicial proceeding in any jurisdiction
to protect trust property and the trustee in the performance of the trustee's duties.

25. Sign and deliver contracts and other instruments that are useful to achieve or
facilitate the exercise of the trustee's powers.

26. On termination of the trust, exercise the powers appropriate to wind up the
administration of the trust and distribute the trust property to the persons entitled to
it.