Georgia § 53-12-305 Liability of cotrustee

Georgia Statutes

§ 53-12-305 — Liability of cotrustee

(a)A trustee shall be liable to the beneficiary for a breach committed by a cotrustee if such trustee:

(1)Participates in a breach of trust committed by the cotrustee;

(2)Improperly delegates the administration of the trust to the cotrustee;

(3)Approves, knowingly acquiesces in, or conceals a breach of trust committed by the cotrustee;

(4)Negligently enables the cotrustee to commit a breach of trust; or (5) Neglects to take reasonable steps to compel the cotrustee to redress a breach of trust in a case where such trustee knows or reasonably should have known of the breach of trust.

(b)If two or more cotrustees are jointly liable to the beneficiary, each cotrustee shall be entitled to contribution from the other, as determined by the degree of each cotrustee's fault.

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(a) A trustee shall be liable to the beneficiary for a breach committed by a cotrustee if such trustee: (1) Participates in a breach of trust committed by the cotrustee; (2) Improperly delegates the administration of the trust to the cotrustee; (3) Approves, knowingly acquiesces in, or conceals a breach of trust committed by the cotrustee; (4) Negligently enables the cotrustee to commit a breach of trust; or (5) Neglects to take reasonable steps to compel the cotrustee to redress a breach of trust in a case where such trustee knows or reasonably should have known of the breach of trust. (b) If two or more cotrustees are jointly liable to the beneficiary, each cotrustee shall be entitled to contribution from the other, as determined by the degree of each cotrustee's fault.

Georgia § 53-12-305 (Liability of cotrustee) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.