Montana § 72-40-114 Duty To Provide Information To Trust Director Or Trustee

Montana Statutes

§ 72-40-114 — Duty To Provide Information To Trust Director Or Trustee

Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 40 UNIFORM DIRECTED TRUST ACT·Part 1 General Provisions

72-40-114 . Duty to provide information to trust director or trustee.

(1)Subject to 72-40-115 , a trustee shall provide information to a trust director to the extent the information is reasonably related both to:

(a)the powers or duties of the trustee; and

(b)the powers or duties of the director.

(2)Subject to 72-40-115 , a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related both to:

(a)the powers or duties of the director; and

(b)the powers or duties of the trustee or other director.

(3)A trustee that acts in reliance on information provided by a trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trustee engages in willful misc

Free access — add to your briefcase to read the full text and ask questions with AI

72-40-114 . Duty to provide information to trust director or trustee. (1) Subject to 72-40-115 , a trustee shall provide information to a trust director to the extent the information is reasonably related both to:
(a) the powers or duties of the trustee; and
(b) the powers or duties of the director.
(2) Subject to 72-40-115 , a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related both to:
(a) the powers or duties of the director; and
(b) the powers or duties of the trustee or other director.
(3) A trustee that acts in reliance on information provided by a trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trustee engages in willful misconduct.
(4) A trust director that acts in reliance on information provided by a trustee or another trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trust director engages in willful misconduct.

Montana § 72-40-114 (Duty To Provide Information To Trust Director Or Trustee) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.