§ 7780.21 — Duty to provide information to trust director or directed trustee - UDTA 10

Pennsylvania § 7780.21

• Jurisdiction: Pennsylvania
• Title 20: DECEDENTS, ESTATES AND FIDUCIARIES
• Ch. 77: TRUSTS
• Subch.: DIRECTED TRUSTS

Text

(a) Duty of directed trustee.--Subject to section 7780.22 (relating to no duty to monitor, inform or advise - UDTA 11), a directed trustee shall provide information to a trust director to the extent that the information is reasonably related to powers or duties of the:

(1) directed trustee; and

(2) trust director, or the powers or duties of another trust director over which the trust director may exercise authority.

(b) Duty of trust director.--Subject to section 7780.22, a trust director shall provide information to a directed trustee or another trust director to the extent that the information is reasonably related to the powers or duties of the:

(1) trust director; and

(2) directed trustee, or the other trust director or a trust director over which the other trust director may exercise authority.

(c) Limitation on liability of directed trustee.--A directed trustee that acts in reliance upon information provided by a trust director is not liable for a breach of trust to the extent that the breach resulted from the reliance unless the information was outside the scope of the trust director's authority or the directed trustee engages in willful misconduct by doing so.

(d) Limitation on liability of trust director.--A trust director that acts in reliance upon information provided by a directed trustee or another trust director is not liable for a breach of trust to the extent that the breach resulted from the reliance unless the trust director engages in willful misconduct by doing so.

Legislative History

Cross References.Section 7780.21 is referred to in section 7780.23 of this title.