Fiduciary power definition

Fiduciary power means a management power relating to the administration or management of assets similar to those powers granted to a personal representative in section 3715 and a trustee in sections 7816 and 7817, and granted by law to a fiduciary or conferred upon a fiduciary in a governing instrument.
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Fiduciary power means any power that, when exercised, must be exercised for the benefit of or taking into account the interests of at least one person other than the person holding the power;
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Fiduciary power means a management power relating to the administration or management of assets similar to those powers granted to an independent personal representative in section 334 and a trustee in sections 822 to 829 of the revised probate code, Act No. 642 of the Public Acts of 1978, being sections 700.334 and 700.822 to 700.829 of the Michigan Compiled Laws, and granted by law to a fiduciary or conferred upon a fiduciary in a governing instrument.
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Examples of Fiduciary power in a sentence

  • Fiduciary power may be limited to purely nondiscretionary ministerial tasks, or it may entail authorization to make discretionary judgments.

  • The crops in the irrigation schemes should be grown according to their water requirements.

  • Fiduciary power, and by extension the fiduciary relationship, thus enables one person to act purposively on behalf of another.56The classic fiduciary duties are those of loyalty and care.

  • Example of Fiduciary power: General Principle: The obligation deriving from fiduciary powers is set out by the court in the following case.Re Hay’s Settlement Trust [1981] 3 All ER 786Facts: In the case the trustee was directed to hold the trust fund appointing anyone except the settlor, the settlor’s husband and the trustee himself.


More Definitions of Fiduciary power

Fiduciary power means the Interim Fiduciary Power or the Final Fiduciary Power, as then applicable.
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Fiduciary power means a management power relating to the administration or management of
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Related to Fiduciary power

  • Fiduciary has the meaning set forth in ERISA Section 3(21).

  • Family relationship means a relationship between a person and another person within the third degree by consanguinity or the second degree by affinity, as those terms are defined by Subchapter B, Chapter 573, Texas Government Code.

  • Co-Venturer means any other entity with whom the Company or an Affiliate of Company is or may be from time to time a Party to a joint operating agreement or unitisation agreement or similar agreement relating to the operations for which the Work is being performed or otherwise for whose benefit the Work are being performed and the successors in interest of such Co-Venturer or the assignees of any interest of such Co-Venturer.

  • Urban Coordinating Council Empowerment Neighborhood means a neighborhood given priority access to State resources through the New Jersey Redevelopment Authority.

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Federally related transaction means any real estate related