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

Indiana Statutes

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

Indiana·Art. 4 TRUST CODE·Ch. 9 Uniform Directed Trust Act

(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

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(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.

Indiana § 30-4-9-10 (Providing information to a trust director; liability; breach of trust) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.