A trust instrument governed by the laws of this state may provide for a person to act as an investment trust advisor, a distribution trust advisor, or a tax trust advisor, respectively, with regard to investment decisions, distribution decisions, or tax decisions, respectively. Unless otherwise provided or restricted by the terms of the governing instrument, any person may simultaneously serve as a trust advisor and a trust protector.

Source: SL 2005, ch 260 , § 5; SL 2017, ch 204 , § 16; SL 2025, ch 196 , § 4.