(7) Subdivide, develop, or dedicate land to public use make or obtain the vacation of plats and adjust boundaries adjust differences in valuation on exchange or partition by giving or receiving consideration or dedicate easements to public use without consideration (6) Make ordinary or extraordinary repairs or alterations in buildings or other structures demolish any improvements or raze existing or erect new party walls or buildings (5) Acquire or dispose of an asset for cash or on credit at a public or private sale manage, develop, improve, exchange, partition, change the character of, or abandon a trust asset or any interest in it encumber, mortgage, or pledge a trust asset for a term within or extending beyond the term of the trust in connection with the exercise of any power vested in the trustee (4) Continue or participate in the operation of any business or other enterprise in which the trust owns an interest and to effect incorporation, dissolution, or other change in the form of the organization of the business or enterprise Nothing contained in this article shall, insofar as such authorization may be prohibited by the Constitution of this state, authorize the investment of trust assets in the stock of any private corporation (3) Invest and reinvest the trust assets in securities, investments and other property which are authorized as investments for trust assets under Section 19-3-120, or under any other applicable statute or law, and, in addition to such securities, investments and other property, to invest and reinvest the trust assets in any and all other kinds of securities, investments and other property, without regard to type or classification, subject only to compliance in connection with the selection of such securities, investments and other investments with the standards of prudence applicable under Section 19-3-120.2, or if such statute is not applicable to the trust, under the provisions of such other applicable provision of law. For purposes of the immediately preceding sentence, compensation charged by or paid to a related party shall be conclusively presumed to be reasonable if such compensation is consistent with any standard fee table maintained by the related party in the ordinary course of business (2) Sell, purchase, exchange, execute options for, partition, or otherwise dispose of or acquire, any property or interest therein which the trustee may hold from time to time, at public or private sale or otherwise, including such transactions with or involving any related party as principal or agent, upon such terms and conditions, including credit, and for such consideration as the trustee shall deem advisable, including reasonable compensation for any such related party, and to transfer and convey the property or interest therein which is at the disposal of the trustee, in fee simple absolute or otherwise free of all trust provided that the trustee or the related party discloses to the current beneficiary in any reasonable manner (including by confirmation, account statement, prospectus, or otherwise) the terms of the transaction, including any fee paid to the related party. Such property may include, among other things, stock in the trustee if a trustee entity, and stock in any related party In the absence of an express provision to the contrary in a trust instrument, a trustee may without liability continue to hold property received into an account at its inception or subsequently added to it or acquired pursuant to proper authority if and as long as the trustee, in the exercise of good faith and of reasonable prudence, may consider that retention to be in the best interest of the account or in furtherance of the purposes of the trust. The trustee is specifically authorized to receive, collect, hold, and retain common or preferred stock or other interest in the trustee or any related party. (1) Receive (subject to the trustee's approval), collect, hold and retain for such time as the trustee shall deem advisable, property, real or personal, including property in which the trustee or any related party is personally interested. Unless otherwise expressly limited in the trust instrument, or by an order of court, a trustee may, acting as a prudent person would in light of the purpose of the trust, perform any or all of the following acts: View our newest version here 2006 Alabama Code - Section 19-3-322 - Powers of trustee.
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