Sec. 45a-500h. Duty and liability of trust director.
232 words·~1 min read·
/ct/title-45a/chapter-802c-trusts/45a-500h·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Subject to the provisions of subsection
(b)of this section, with respect to a power of direction or further power under subdivision
(1)of subsection
(b)of section 45a-500f :
(1)A trust director has the same fiduciary duty and liability in the exercise or nonexercise of the power:
(A)If the power is held individually, as a sole trustee in a like position and under similar circumstances; or
(B)If the power is held jointly with a trustee or another trust director, as a cotrustee in a like position and under similar circumstances; and
(2)The terms of the trust may vary the director's duty or liability to the same extent the terms of the trust could vary the duty or liability of a trustee in a like position and under similar circumstances.
(b)Unless the terms of a trust provide otherwise, if a trust director is licensed, certified, or otherwise authorized or permitted by law other than sections 45a-500b to 45a-500s , inclusive, to provide health care in the ordinary course of the director's business or practice of a profession, to the extent the director acts in that capacity, the director has no duty or liability under sections 45a-500b to 45a-500s , inclusive.
(c)The terms of a trust may impose a duty or liability on a trust director in addition to the duties and liabilities under this section.