7501 - Legislative intent. - Pennsylvania Statutes

CHAPTER 75 LIMITATIONS ON EXERCISE OF TRUSTEE POWERS AND POWERS OF BENEFICIARIES TO APPOINT TRUSTEES Sec. 7501. Legislative intent. 7502. Definitions. 7503. Application of chapter. 7504. Certain trustee powers not exercisable. 7505. Joint powers and appointment of nondisqualified substituted trustees. 7506. Certain powers of beneficiaries not exercisable. Enactment. Chapter 75 was added December 21, 1998, P.L.1067, No.141, effective immediately. § 7501. Legislative intent. This chapter is enacted to codify, clarify and confirm certain existing common law principles of fiduciary and trust law relating to conflicts of interest on the part of trustees.