Maine § 18-B §1002 Damages for breach of trust

Maine Statutes

§ 18-B §1002 — Damages for breach of trust

Maine·Title 18-B TRUSTS·Part 1 MAINE UNIFORM TRUST CODE·Ch. 10 LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEE

1.Damages. A trustee who commits a breach of trust is liable to the beneficiaries affected for the greater of:

2.Contribution from other trustees. Except as otherwise provided in this subsection, if more than one trustee is liable to the beneficiaries for a breach of trust, a trustee is entitled to contribution from the other trustee or trustees. A trustee is not entitled to contribution if the trustee was substantially more at fault than another trustee or if the trustee committed the breach of trust in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries. A trustee who received a benefit from the breach of trust is not entitled to contribution from another trustee to the extent of the benefit received.

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1.
Damages.
A trustee who commits a breach of trust is liable to the beneficiaries affected for the greater of:
2.
Contribution from other trustees.
Except as otherwise provided in this subsection, if more than one trustee is liable to the beneficiaries for a breach of trust, a trustee is entitled to contribution from the other trustee or trustees. A trustee is not entitled to contribution if the trustee was substantially more at fault than another trustee or if the trustee committed the breach of trust in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries. A trustee who received a benefit from the breach of trust is not entitled to contribution from another trustee to the extent of the benefit received.

Maine § 18-B §1002 (Damages for breach of trust) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.