[§554G-4.5]  Advisors.  (a)  A transferor may appoint, through the trust instrument, one or more advisors or protectors, including:

     (1)  Advisors who have authority under the terms of the trust to remove and appoint trustees, advisors, trust committee members, or protectors;

     (2)  Advisors who have authority under the terms of the trust to direct, consent to, or disapprove of distributions from the trust; and

     (3)  Advisors, including the transferor beneficiary of the trust, who serve as investment advisors to the trust.

     (b)  While a trustee may appoint an advisor, the administrative and non-administrative authority over the trust shall remain with the trustee.

     (c)  Notwithstanding subsection (b), whenever there is a dispute, deadlock, or difference of opinion between a trustee and an advisor, the transferor may direct that the determination of the advisor shall be binding upon the trustee; provided that the trustee shall bear no liability or accountability for any act or transaction entered into as a result of the enforcement of the advisor's determination.  The trustee's administrative and non-administrative fiduciary duty to the beneficiaries shall be waived as to the specific act or executed transaction; provided that the trustee dissents in writing before the act or transaction is completed. [L 2011, c 161, §2]