Conditions under which beneficiary has power to change trustees

For the purposes of § 55-2-15 , a beneficiary shall be considered to have the power to "change the trustees" if he or she can, alone or with others, name himself or herself as a trustee or can remove a trustee and replace that trustee with a new trustee who is the beneficiary or who is related or subordinate (as defined in § 672 of the I.R.C.) to the beneficiary. Source: SL 2007, ch 281, § 3; SL 2009, ch 252, § 18.