District of Columbia § 29-1205.06 Reasonable reliance.

District of Columbia Statutes

§ 29-1205.06 — Reasonable reliance.

District of Columbia § 29-1205.06

Title 29Business Organizations. [Enacted title]

Ch. 12Statutory Trusts.

Subch. VTrustees and Trust Management.

This text of District of Columbia § 29-1205.06 (Reasonable reliance.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 29-1205.06 (2026).

Text

A trustee, officer, employee, manager, or committee of a statutory trust, or other person designated pursuant to § 29-1201.03(e)(8) or (9) is not liable to the trust or to a beneficial owner for breach of any duty, including a fiduciary duty, to the extent the breach results from reasonable reliance on:

(1)A term of the governing instrument;

(2)A record of the statutory trust; or

(3)An opinion, report, or statement of another person that the trustee reasonably believes is within the other person’s professional or expert competence and is made or delivered to the trustee, officer, employee, manager, or committee of a statutory trust or other person designated pursuant to § 29-1201.03(e)(8) or (9).

Free access — add to your briefcase to read the full text and ask questions with AI

A trustee, officer, employee, manager, or committee of a statutory trust, or other person designated pursuant to § 29-1201.03(e)(8) or (9) is not liable to the trust or to a beneficial owner for breach of any duty, including a fiduciary duty, to the extent the breach results from reasonable reliance on:

(1) A term of the governing instrument;

(2) A record of the statutory trust; or

(3) An opinion, report, or statement of another person that the trustee reasonably believes is within the other person’s professional or expert competence and is made or delivered to the trustee, officer, employee, manager, or committee of a statutory trust or other person designated pursuant to § 29-1201.03(e)(8) or (9).