72-40-115. No duty to monitor, inform, or advise.
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72-40-115 . No duty to monitor, inform, or advise.
(1)Unless the terms of a trust provide otherwise:
(a)a trustee does not have a duty to:
(i)monitor a trust director; or
(ii)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
(b)by taking an action described in subsection (1)(a), a trustee does not assume the duty excluded by subsection (1)(a).
(2)Unless the terms of a trust provide otherwise:
(a)a trust director does not have a duty to:
(i)monitor a trustee or another trust director; or
(ii)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
(b)by taking an action described in subsection (2)(a), a trust director does not assume the duty excluded by subsection (2)(a).