Colorado § 15-16-917 Relief from liability and indemnification

Colorado Statutes

§ 15-16-917 — Relief from liability and indemnification

Colorado·Title 15 Probate,·Art. Trust Administration

(1)Except as otherwise provided in this section, a second-trust instrument may not relieve an authorized fiduciary from liability for breach of trust to a greater extent than the first-trust instrument.

(2)A second-trust instrument may provide for indemnification of an authorized fiduciary of the first trust or another person acting in a fiduciary capacity under the first trust for any liability or claim that would have been payable from the first trust if the decanting power had not been exercised.

(3)A second-trust instrument may not reduce fiduciary liability in the aggregate.

(4)Subject to subsection (3) of this section, a second-trust instrument may divide and reallocate fiduciary powers among fiduciaries, including one or more trustees, distribution advisors, investme

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(1) Except as otherwise
provided in this section, a second-trust instrument may not relieve an authorized
fiduciary from liability for breach of trust to a greater extent than the first-trust
instrument.

(2) A second-trust instrument may provide for indemnification of an
authorized fiduciary of the first trust or another person acting in a fiduciary
capacity under the first trust for any liability or claim that would have been payable
from the first trust if the decanting power had not been exercised.

(3) A second-trust instrument may not reduce fiduciary liability in the
aggregate.

(4) Subject to subsection (3) of this section, a second-trust instrument may
divide and reallocate fiduciary powers among fiduciaries, including one or more
trustees, distribution advisors, investment advisors, trust protectors, or other
persons, and relieve a fiduciary from liability for an act or failure to act of another
fiduciary as permitted by law of this state other than this part 9.

Colorado § 15-16-917 (Relief from liability and indemnification) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.