Me. Stat. tit. 18-B § 1003

Current through 131st (2023-2024) Legislature Chapter 684

Section 1003 - Damages in absence of breach

1.Accountable for profit. A trustee is accountable to an affected beneficiary for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust. Nothing in this section limits a trustee's right to reasonable compensation under section 708.

[2003, c. 618, Pt. A, §1(NEW); 2003, c. 618, Pt. A, §2(AFF).]

2.Not accountable for loss, depreciation or no profit. Absent a breach of trust, a trustee is not liable to a beneficiary for a loss or depreciation in the value of trust property or for not having made a profit.

[2003, c. 618, Pt. A, §1(NEW); 2003, c. 618, Pt. A, §2(AFF).]

18-B M.R.S. § 1003

2003, c. 618, §A1 (NEW) . 2003, c. 618, §A2 (AFF) .