58-5011. No duty to monitor, inform or advise.

162 words·~1 min read·/ks/chapter-58/58-5011

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Unless the terms of a trust provide otherwise:

(1)A trustee does not have a duty to:

(A)Monitor a trust director; or

(B)inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the director; and

(2)by taking an action described in paragraph (1), a trustee does not assume the duty excluded by paragraph (1).

(b)Unless the terms of a trust provide otherwise:

(1)A trust director does not have a duty to:

(A)Monitor a trustee or another trust director; or

(B)inform or give advice to a settlor, beneficiary, trustee, or another trust director concerning an instance in which the director might have acted differently than a trustee or another trust director; and

(2)by taking an action described in paragraph (1), a trust director does not assume the duty excluded by paragraph (1).