§ 30-4-9-9 — Duties and liabilities of a directed trustee

Indiana § 30-4-9-9

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

Text

(a) Subject to subsection (b), a directed trustee
shall take reasonable action to comply with a trust director's exercise
or nonexercise of a power of direction or further power under section
6(b)(1) of this chapter, and the trustee is not liable for the action.
(b) A directed trustee must not comply with a trust director's
exercise or nonexercise of a power of direction or further power under
section 6(b)(1) of this chapter to the extent that by complying the
trustee would engage in willful misconduct.
(c) An exercise of power of direction under which a trust director
may release a trustee or another trust director from liability for breach
of trust is not effective if:
(1) the breach involved the trustee's or other director's willful
misconduct;
(2) the release was induced by improper conduct of the trustee or
other director in procuring the release; or
(3) at the time of the release, the director did not know the
material facts relating to the breach.
(d) A directed trustee that has reasonable doubt about the directed
trustee's duty under this section may petition the court for instructions.
(e) The terms of a trust may impose a duty or liability on a directed
trustee in addition to the duties and liabilities under this section.

Legislative History

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