One Click Case Law for § 53-12-246
O.C.G.A. § 53-12-245 <-- --> O.C.G.A. §53-12-247

2010 Georgia Code

TITLE 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES

CHAPTER 12 - TRUSTS
ARTICLE 13 - TRUSTEES' DUTIES AND POWERS
PART 1 - DUTIES OF TRUSTEE
§ 53-12-246 - Duty to avoid conflict of interest

O.C.G.A. 53-12-246 (2010)
53-12-246. Duty to avoid conflict of interest


(a) A trustee shall administer the trust solely in the interests of the beneficiaries.

(b) 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.