§ 4-10-807 — Delegation by trustee

Wyoming § 4-10-807

• Jurisdiction: Wyoming
• Title 04: Fiduciaries
• Ch. 10: UNIFORM TRUST CODE
• Art. 8: DUTIES AND POWERS OF TRUSTEE

Text

(a) A trustee may delegate duties and powers that a
prudent trustee of comparable skills could properly delegate
under the circumstances. The trustee shall exercise reasonable
care, skill and caution in:
(i) Selecting an agent;
(ii) Establishing the scope and terms of the
delegation, consistent with the purposes and terms of the trust;
and
(iii) Periodically reviewing the agent's actions in
order to monitor the agent's performance and compliance with the
terms of the delegation.
(b) In performing a delegated function, an agent owes a
duty to the trust to exercise reasonable care to comply with the
terms of the delegation.
(c) A trustee who complies with subsection (a) of this
section is not liable to the beneficiaries or to the trust for
an action of the agent to whom the function was delegated.
(d) By accepting a delegation of powers or duties from the
trustee of a trust that is subject to the law of the state of
Wyoming, an agent submits to the jurisdiction of the courts of
the state of Wyoming even if the agency agreement provides
otherwise, and the agent may be made a party to any action or
proceeding if the issues relate to a decision, action or
inaction of the agent.