§ 30-4-3-14 — Contribution and indemnity

(Contribution and Indemnity)
(a) Except as stated in subsection (b) of this section, if two (2) or
more co-trustees are liable to the beneficiary, each co-trustee is entitled
to contribution from the other, provided, however, that:
(1) if one (1) co-trustee is substantially more at fault than another,
the co-trustee who is most at fault is not entitled to contribution, and
the other co-trustee is entitled to indemnity from him; or
(2) if one (1) of the co-trustees receives a profit from the
administration of the trust or a benefit from a breach of trust, the other
co-trustee is entitled to indemnity from him to the extent of the profit
or benefit received by that co-trustee.
(b) If a trustee commits a breach of trust in bad faith, he is not
entitled to either contribution or indemnity from his co-trustee.
Formerly: Acts 1971, P.L.416, SEC.4.