[ §554D-1008] Exculpation of trustee.
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/hi/554d-1008A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[ §554D-1008] Exculpation of trustee. A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that it:
(1)Relieves the trustee of liability for breach of trust committed in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries; or
(2)Was inserted as the result of an abuse by the trustee of either a fiduciary or confidential relationship to the settlor. [L 2021, c 32, pt of §2]