Current through 2023-2024 Legislative Session Chapter 709
Section 53-12-201 - Appointment and vacancies(a) A settlor may appoint trustees or grant that power to others, including trust beneficiaries.(b) A trust shall never fail for want of a trustee.(c) If the trust instrument names a person to fill a vacancy or provides a method of appointing a trustee, any vacancy shall be filled or appointment made as provided in the trust instrument.(d) The qualified beneficiaries may appoint a trustee by unanimous consent.(e) In all other cases, the court, on petition of an interested person, may appoint any number of trustees consistent with the intention of the settlor and the interests of the beneficiaries.(f) The petition provided for in subsection (e) of this Code section shall be served upon all qualified beneficiaries.(g) A trustee appointed as a successor trustee shall have all the authority of the original trustee.Amended by 2018 Ga. Laws 366,§ 14, eff. 7/1/2018.Amended by 2011 Ga. Laws 181,§ 10, eff. 5/12/2011.Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.