Kan. Stat. § 9-2318

Current through 2024 Session Acts Chapter 111 and 2024 Special Session Acts Chapter 4

Section 9-2318 - Indemnification of trust advisor; exceptions

An instrument may relieve and indemnify a trust advisor and a fiduciary financial institution that serves as trustee of a fidfin trust or alternative asset custody account from liability for a breach of fiduciary duty. Any such provision is unenforceable to the extent that it relieves the trust advisor or fiduciary financial institution from liability for a breach of fiduciary duty committed:

(a) In bad faith;

(b) intentionally; or

(c) with reckless indifference to the interest of a beneficiary.

K.S.A. 9-2318

Amended by L. 2022, ch. 55,§ 11, eff. 7/1/2022.

Added by L. 2021, ch. 80,§ 18, eff. 7/1/2021.