                                 CODE OF VIRGINIA

COTRUSTEES (§ 64.2-756)

A. Cotrustees who are unable to reach a unanimous decision may act by majority
decision.

B. If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for
the trust.

C. Subject to subsection I, a cotrustee shall participate in the performance of
a trustee&#8217;s function unless the cotrustee is unavailable to perform the
function because of absence, illness, disqualification under other law, or other
temporary incapacity, or the cotrustee has properly delegated the performance of
the function to another trustee.

D. If a cotrustee is unavailable to perform duties because of absence, illness,
disqualification under other law, or other temporary incapacity, and prompt
action is necessary to achieve the purposes of the trust or to avoid injury to
the trust property, the remaining cotrustee or a majority of the remaining
cotrustees may act for the trust.

E. A trustee may delegate to a cotrustee the performance of any function other
than a function that the terms of the trust expressly require to be performed by
the trustees jointly. Unless a delegation was irrevocable, a trustee may revoke
a delegation previously made.

F. Except as otherwise provided in subsection G, a trustee who does not join in
an action of another trustee is not liable for the action.

G. Subject to subsection I, each trustee shall exercise reasonable care to:

   1. Prevent a cotrustee from committing a serious breach of trust; and

   2. Compel a cotrustee to redress a serious breach of trust.

H. A dissenting trustee who joins in an action at the direction of the majority
of the trustees and who notified any cotrustee of the dissent at or before the
time of the action is not liable for the action unless the action is a serious
breach of trust.

I. The terms of a trust may relieve a cotrustee from duty and liability with
respect to another cotrustee&#8217;s exercise or nonexercise of a power of the
other cotrustee to the same extent that in a directed trust a directed trustee
is relieved from duty and liability with respect to a trust director&#8217;s
power of direction under &#xA7;&#xA7; 64.2-779.32, 64.2-779.33, and 64.2-779.34.

HISTORY: 2005, c. 935, § 55-547.03; 2012, c. 614; 2020, c. 768.