Kansas § 9-2318 Indemnification of trust advisor; exceptions

Kansas Statutes

§ 9-2318 — Indemnification of trust advisor; exceptions

Kansas·Ch. 9 BANKS AND BANKING; TRUST COMPANIES·Art. 23 TECHNOLOGY-ENABLED FIDUCIARY FINANCIAL INSTITUTIONS

An instrument may relieve and indemnify a trust advisor and a fiduciary financial institution that serves as trustee of a fidfin trust or alternative asset custody account from liability for a breach of fiduciary duty. Any such provision is unenforceable to the extent that it relieves the trust advisor or fiduciary financial institution from liability for a breach of fiduciary duty committed:

(a)In bad faith;

(b)intentionally; or

(c)with reckless indifference to the interest of a beneficiary.

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An instrument may relieve and indemnify a trust advisor and a fiduciary financial institution that serves as trustee of a fidfin trust or alternative asset custody account from liability for a breach of fiduciary duty. Any such provision is unenforceable to the extent that it relieves the trust advisor or fiduciary financial institution from liability for a breach of fiduciary duty committed:
(a) In bad faith;
(b) intentionally; or
(c) with reckless indifference to the interest of a beneficiary.

Kansas § 9-2318 (Indemnification of trust advisor; exceptions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.