Duty to Avoid Conflict of Interest

  1. Law
  2. Georgia Code
  3. Wills, Trusts, and Administration of Estates
  4. Trusts
  5. Trustees' Duties and Powers
  6. Duties of Trustee
  7. Duty to Avoid Conflict of Interest

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  1. A trustee shall administer the trust solely in the interests of the beneficiaries.
  2. This Code section shall not preclude the following transactions, if fair to the beneficiaries:
    1. An agreement between a trustee and a beneficiary relating to the appointment or compensation of the trustee;
    2. Payment of reasonable compensation to the trustee; or
    3. Performing and receiving reasonable compensation for performing services of a managerial, executive, or business advisory nature for a corporation or other business enterprise, where the trust estate owns an interest in the corporation or other business enterprise.

(Code 1981, §53-12-246, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)


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