Tennessee § 35-15-1205 Fiduciary's liability for action or inaction of trustee, trust advisor, and trust protector

Tennessee Statutes

§ 35-15-1205 — Fiduciary's liability for action or inaction of trustee, trust advisor, and trust protector

Tennessee § 35-15-1205

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This text of Tennessee § 35-15-1205 (Fiduciary's liability for action or inaction of trustee, trust advisor, and trust protector) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 35-15-1205 (2026).

Text

An excluded fiduciary is not liable, either individually or as a fiduciary, for:

(1)Any loss resulting from compliance with a direction of a trustee, trust advisor or trust protector, including but not limited to, any loss from the trustee, trust advisor or trust protector breaching fiduciary responsibilities or acting beyond the trustee's, trust advisor's or trust protector's scope of authority;

(2)Any loss resulting from any action or inaction of a trustee, trust advisor, or trust protector; or (3) Any loss that results from the failure of a trustee, trust advisor, or trust protector to take any action proposed by the excluded fiduciary where such action requires the authorization of the trustee, trust advisor, or trust protector; provided, that an excluded fiduciary who had a duty to

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An excluded fiduciary is not liable, either individually or as a fiduciary, for: (1) Any loss resulting from compliance with a direction of a trustee, trust advisor or trust protector, including but not limited to, any loss from the trustee, trust advisor or trust protector breaching fiduciary responsibilities or acting beyond the trustee's, trust advisor's or trust protector's scope of authority; (2) Any loss resulting from any action or inaction of a trustee, trust advisor, or trust protector; or (3) Any loss that results from the failure of a trustee, trust advisor, or trust protector to take any action proposed by the excluded fiduciary where such action requires the authorization of the trustee, trust advisor, or trust protector; provided, that an excluded fiduciary who had a duty to propose such action timely sought but failed to obtain the authorization.