(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.Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
Georgia Legal Code