§ 29-1205.11 — Delegation by trustee.

District of Columbia § 29-1205.11

• Jurisdiction: District of Columbia
• Title 29: Business Organizations. [Enacted title]
• Ch. 12: Statutory Trusts.
• Subch. V: Trustees and Trust Management.

Text

(a) A trustee may delegate duties and powers. The trustee shall exercise the care a person in a similar position would reasonably believe appropriate under similar circumstances in:

(1) Selecting an agent;

(2) Establishing the scope and terms of the delegation; and

(3) Periodically reviewing the agent’s actions to monitor the agent’s performance and compliance with the terms of the delegation.

(b) Subject to subsection (a) of this section, a trustee may delegate duties and powers to a co-trustee.

(c) In performing a delegated function, an agent of a trustee shall owe a duty to the statutory trust to exercise reasonable care to comply with the terms of the delegation.

(d) A trustee that complies with subsection (a) of this section shall not be liable to a beneficial owner or to the statutory trust for an act or omission of the agent of the trustee to which a function was delegated.

(e) An agent of a trustee submits to the jurisdiction of the courts of the District by accepting a delegation of powers or duties from a trustee with respect to a claim related to the agency.

Legislative History

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720