Current through 2024 Second Special Session
Section 44D-8A-811 - No duty to monitor, inform, or advise(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 grantor, 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 §44D-8A-811(a)(1) of this code, a trustee does not assume the duty excluded by §44D-8A-811(a)(1) of this code.(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 grantor, 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 §44D-8A-811(b)(1) of this code, a trust director does not assume the duty excluded by §44D-8A-811(b)(1) of this code.Added by 2020 Acts, ch. 137 (SB 213), eff. 7/1/2020.