Montana Statutes
§ 72-40-113 — Duty And Liability Of Directed Trustee
Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 40 UNIFORM DIRECTED TRUST ACT·Part 1 General Provisions
72-40-113 . Duty and liability of directed trustee.
(1)Subject to subsection (2), 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 72-40-110 (2)(a), and the trustee is not liable for the action.
(2)A directed trustee may not comply with a trust director's exercise or nonexercise of a power of direction or further power under 72-40-110 (2)(a) to the extent that by complying the trustee would engage in willful misconduct.
(3)An exercise of a 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:
(a)the breach involved the trustee's or other director's willful misconduct;
(b)the release was
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Legislative History
En. Sec. 9, Ch. 325, L. 2021.
Nearby Sections
15
§ 72-40-101
Short Title§ 72-40-102
Definitions§ 72-40-104
Common Law And Principles Of Equity§ 72-40-105
Exclusions§ 72-40-106
Through 72-40-109 Reserved§ 72-40-110
Powers Of Trust Director§ 72-40-111
Limitations On Trust Director§ 72-40-112
Duty And Liability Of Trust Director§ 72-40-113
Duty And Liability Of Directed Trustee§ 72-40-115
No Duty To Monitor, Inform, Or Advise§ 72-40-116
Application To Cotrustee§ 72-40-117
Limitation Of Action Against Trust Director§ 72-40-118
Defenses In Action Against Trust Director