Montana Statutes
§ 72-40-117 — Limitation Of Action Against Trust Director
Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 40 UNIFORM DIRECTED TRUST ACT·Part 1 General Provisions
72-40-117 . Limitation of action against trust director.
(1)An action against a trust director for breach of trust must be commenced within the same limitation period as under 72-38-1005 for an action for breach of trust against a trustee in a like position and under similar circumstances.
(2)A report or accounting has the same effect on the limitation period for an action against a trust director for breach of trust that the report or accounting would have under 72-38-1005 in an action for breach of trust against a trustee in a like position and under similar circumstances.
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Legislative History
En. Sec. 13, 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