Conflict of interest in exercise of powers
Sec. 5. (Conflict of Interest in Exercise of Powers)
(a) If the duty of the trustee in the exercise of any power conflicts
with his individual interest or his interest as trustee of another trust,
the power may be exercised only with court authorization.
(b) For the purposes of subsection (a) of this section, the interest
of an affiliate of the trustee will be deemed to be the interest of the
trustee.
(Formerly: Acts 1971, P.L.416, SEC.4.)
Last modified: May 27, 2006