Qualified trustees; advisors

1. Law
2. Mississippi Code
3. Trusts and Estates
4. Trusts and Trustees
5. Mississippi Qualified Disposition in Trust Act
6. Qualified trustees; advisors

For purposes of this article, neither the transferor nor any other natural person who is a nonresident of this state nor an entity that is not authorized by the law of this state to act as a trustee or whose activities are not subject to supervision as provided in Section 91-9-703(k)(1) shall be considered a qualified trustee; however, nothing in this article shall preclude a transferor from appointing one (1) or more advisors, including, but not limited to:

1. Advisors who have authority under the terms of the trust instrument to remove and appoint qualified trustees or trust advisors;
2. Advisors who have authority under the terms of the trust instrument to direct, consent to or disapprove distributions from the trust; and
3. Investment advisors, whether or not the advisors would meet the requirements imposed by Section 91-9-703(k).

For purposes of subsection (a), "advisor" includes a trust "protector" or any other person who, in addition to a qualified trustee, holds one or more trust powers.

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