1. (a) A corporate fiduciary may be appointed and may act under the order of appointment of any court of competent jurisdiction as:

   1. (1) guardian;
   2. (2) trustee;
   3. (3) executor; or

   4. (4) administrator, with or without the will annexed;

      on the application or consent of a person who is acting as guardian, trustee, executor, or administrator, or who is entitled to appointment as guardian, trustee, executor, or administrator.

2. (b) A corporate fiduciary appointed under subsection (a) serves in the place of and instead of the person who applies for or consents to the appointment.

3. (c) An appointment under subsection (a) must be made:

   1. (1) upon the notice required by law to the persons interested in the estate or fund; and
   2. (2) on the consent of the principal beneficiaries or other persons interested in the estate or fund as the court making the appointment considers proper.

As added by P.L.262-1995, SEC.90.