Current with changes from the 2024 legislative session through ch. 845
Section 64.2-769 - Delegation by trusteeA. 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:2. Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and3. 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 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 Commonwealth, an agent submits to the jurisdiction of the courts of the Commonwealth.2005, c. 935, § 55-548.07; 2012, c. 614.Amended by Acts 2012, c. 614.Amended by Acts 2005, c. 935, § 55-548.07.