§ 30-4-9-8 — Duties and liabilities of a trust director

Indiana § 30-4-9-8

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

Text

(a) Subject to subsection (b), with respect to a
power of direction or further power under section 6(b)(1) of this
chapter:
(1) a trust director has the same fiduciary duty and liability in the
exercise or nonexercise of the power:
(A) if the power is held individually, as a sole trustee in a like
position and under similar circumstances; or
(B) if the power is held jointly with a trustee or another trust
director, as a cotrustee in a like position and under similar
circumstances; and
(2) the terms of the trust may vary the director's duty or liability
to the same extent the terms of the trust could vary the duty or
liability of a trustee in a like position and under similar
circumstances.
(b) Unless the terms of a trust provide otherwise, if a trust director
is licensed, certified, or otherwise authorized or permitted by law other
than this chapter to provide health care in the ordinary course of the
director's business or practice of a profession, to the extent the director
acts in that capacity, the director has no duty or liability under this
chapter.
(c) The terms of a trust may impose a duty or liability on a trust
director in addition to the duties and liabilities under this section.

Legislative History

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