Section 53-12-506 - Statutory provisions applicable to trust directors; defenses available to trust directors; personal jurisdiction; term "trustee" includes trust director where required or permitted

(a) An individual shall be eligible to serve as a trust director regardless of citizenship and residency. If the trust director is a corporation, partnership, or other entity, it shall be required to have the power to act as a trustee in Georgia.(b) The rules applicable to a trustee apply to a trust director regarding: (1) Jurisdiction under Code Section 53-12-6;(2) Appointment and acceptance, compensation, and resignation and removal of trustees under Article 11 of this chapter;(3) Accounting under Article 12 of this chapter; and(4) Nonresidents and foreign entities acting as trustees under Article 15 of this chapter.(c) In an action against a trust director for breach of trust, the trust director may assert the same defenses a trustee in a like position and under similar circumstances could assert in an action for breach of trust against the trustee.(d) By accepting appointment as a trust director of a trust subject to this article, a trust director submits to personal jurisdiction of the courts of this state regarding any matter related to a power or duty of a trust director. This subsection shall not preclude use of another method to obtain jurisdiction over a trust

isdiction of the courts of this state regarding any matter related to a power or duty of a trust director. This subsection shall not preclude use of another method to obtain jurisdiction over a trust director.(e) As used in this Code, where the context requires or permits, the term 'trustee' includes a trust director.Amended by 2020 Ga. Laws 508,§ 1-92, eff. 1/1/2021.Added by 2018 Ga. Laws 366,§ 25, eff. 7/1/2018.