Current through P.L. 171-2024
Section 30-4-9-11 - Duties of trust director and trustee under the terms of the trust(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 subdivision (1), a trustee does not assume the duty excluded by subdivision (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 subdivision (1), a trust director does not assume the duty excluded by subdivision (1).Added by P.L. 221-2019,SEC. 10, eff. 7/1/2019.