Alabama § 19-3-62 - Powers and Liabilities of Trustees; Liability of Trust for Acts of Trustees.
Full text of Alabama Code of Alabama § 19-3-62 — Powers and Liabilities of Trustees; Liability of Trust for Acts of Trustees., with citation guidance and answers to common questions.
§ 19-3-62. Powers and Liabilities of Trustees; Liability of Trust for Acts of Trustees.
The trustees shall hold the legal title to all property at any time belonging to the business trust. They shall have control over such property as well as the control and management of the business and affairs of the business trust. Liability to third persons for any act, omission or obligation of a trustee of a business trust, when acting in such capacity, shall extend to the whole of the trust estate, or so much thereof as may be necessary to discharge such obligation, but no trustee shall be personally liable for any such act, omission or obligation. The trustees shall have such powers as to the investment of the trust estate as may be set out in the declaration of trust without regard to the type of investments to which trustees generally are restricted by the provisions of Article 6 of this chapter or otherwise.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 19-3-62
What does Code of Alabama § 19-3-62 cover?
Section 19-3-62 ("Powers and Liabilities of Trustees; Liability of Trust for Acts of Trustees.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 19-3-62?
A common citation format is "Code of Alabama § 19-3-62" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 19-3-62 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.