Indiana § 30-4-3-12 Liability for breach of trust by co-trustee

Indiana Statutes

§ 30-4-3-12 — Liability for breach of trust by co-trustee

Indiana·Art. 4 TRUST CODE·Ch. 3 Rules Governing the Rights, Powers, Duties, Liabilities,

(Liability for Breach of Trust by Co-Trustee) A trustee becomes liable to the beneficiary for a breach of trust committed by his co-trustee if he:

(a)participates in the breach of trust;

(b)improperly delegates the administration of the trust to the co-trustee;

(c)approves, acquiesces in or conceals a breach of trust;

(d)enables the co-trustee to commit a breach of trust by his failure to exercise care in the administration of the trust; or

(e)fails to use reasonable effort to compel the co-trustee, or, if the co-trustee has died, his estate, to redress a breach of trust. Formerly: Acts 1971, P.L.416, SEC.4.

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

(Liability for Breach of Trust by Co-Trustee)
A trustee becomes liable to the beneficiary for a breach of trust
committed by his co-trustee if he:
(a) participates in the breach of trust;
(b) improperly delegates the administration of the trust to the
co-trustee;
(c) approves, acquiesces in or conceals a breach of trust;
(d) enables the co-trustee to commit a breach of trust by his failure
to exercise care in the administration of the trust; or
(e) fails to use reasonable effort to compel the co-trustee, or, if the
co-trustee has died, his estate, to redress a breach of trust.
Formerly: Acts 1971, P.L.416, SEC.4.

Indiana § 30-4-3-12 (Liability for breach of trust by co-trustee) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.