§ 30-4-9-10 — Providing information to a trust director; liability; breach of trust

Indiana § 30-4-9-10

• Jurisdiction: Indiana
• Art. 4: TRUST CODE
• Ch. 9: Uniform Directed Trust Act

Text

(a) Subject to section 11 of this chapter, a
trustee shall provide information to a trust director to the extent the
information is reasonably related both to:
(1) the powers or duties of the trustee; and
(2) the powers or duties of the director.
(b) Subject to section 11 of this chapter, a trust director shall
provide information to a trustee or another trust director to the extent
the information is reasonably related to:
(1) the powers or duties of the director; and
(2) the powers or duties of the trustee or other director.
(c) A trustee that acts in reliance on information provided by a trust
director is not liable for a breach of trust to the extent the breach
resulted from the reliance, unless by so acting, the trustee engages in
willful misconduct.
(d) A trust director that acts in reliance on information provided by
a trustee or another trust director is not liable for a breach of trust to the
extent the breach resulted from the reliance, unless by so acting, the
trust director engages in willful misconduct.

Legislative History

As added by P.L.221-2019, SEC.10.