HomeMy WebLinkAbout2488 ~
I,
. ]
i
f
ARTICLE XIV ~
If, at the time of Grantor's death, he is the o~aner of
any business, whether as a sole proprietor or holder of a majority
of the outstanding stock of a corporation, the Trustee may continue
such business so long as it shall deem it to the best interests
of the beneficiaries and to exercise all powers with respect to
such business which Grantor could exercise if living. This shall ~
;
~
include, but not by way of limitation, the power to sell or ?
~
, liquidate said business at such price and upon such terms as the ~
; '
C Trustee shall consider proper; to name or change officers, ~
i ~
~ ~
~ directors or employees and the power to expand, limit, alter,
E
= incorporate, merge or reconstitute such business in any way it
~ ~ . ,
~ deems advisable. In the absence of actual notice to the contrary,
f '
€ the Trustee may accept as correct financial or other statements
~
~ rendered by the managers of the business or corporation from time
~ to time as to its conditions and operations. If such business is
~ retained or continued by the Trustee, it shall receive such
compensation in addition to that to which it would otherwise be
~ entitled as Trustee as will reasonably compensate it for its
c additional services in the management and operation of such
business and it shall in no way be liable for any loss resulting
g from such retention or continuance or from the operation of suc'n
~
~
~ business or the acts of its officers and directors, e~cept whzre
~
~ such loss is the result of the Trustee's misconduct or gross
~ negligence.
~
~
f
~ - 2 6- BOQ1I 674 PAGE 2~80
~
~
~ _-~-`x'"~~";~=~~-~',~ `'.3:-=~~~r~~.u;LL-,v ~~F~,;.~ ~