Indiana Statutes
§ 30-4-3-32 — Trustee's liability for breach of trust
(a)Except as stated in subsections (b) and (c),
the trustee, by provisions of the trust, can be relieved of liability for
breach of trust.
(b)A provision in the trust instrument is not effective to relieve the
trustee of liability for breach of trust committed in bad faith,
intentionally, or with reckless indifference to the interest of the
beneficiary, or of liability for any profit that the trustee has derived
from a breach of trust.
(c)A provision that relieves the trustee of liability for breach of trust
is ineffective if it is inserted in the trust instrument as the result of an
abuse by the trustee of a fiduciary or confidential relationship to the
settlor.
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Indiana § 30-4-3-32 (Trustee's liability for breach of trust) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
As added by P.L.149-1984, SEC.1.
Nearby Sections
15
§ 30-1-2-1
Stocks; bonds; securities§ 30-1-2-2
Securities not listed; terms§ 30-1-4-1
Eligible investments§ 30-1-5-1
Securities; insurance§ 30-1-6-3
Bidding; report; hearing; endorsement§ 30-1-6-5
Acts conclusive; disaffirmance denied§ 30-1-7-2
Petition to execute options; prospectus§ 30-1-7-3
Hearing; order of court§ 30-1-7-4
Binding and conclusive; disaffirmance§ 30-1-8-1
Definitions