District of Columbia § 19-1917 Relief from liability and indemnification.

District of Columbia Statutes

§ 19-1917 — Relief from liability and indemnification.

District of Columbia·Title 19 Descent, Distribution, and Trusts. [Enacted title]·Ch. 19 Uniform Trust Decanting Code.

(a)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.

(b)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.

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

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

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(a) 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.

(b) 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.

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

(d) Subject to subsection (c) 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 the District other than this chapter .

District of Columbia § 19-1917 (Relief from liability and indemnification.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.