Current through the 2024 Regular Session
Section 11.98B.100 - No duty to monitor, inform, or advise trust director or trustee(1) Unless the terms of a trust provide otherwise: (a) A trustee does not have a duty to: (i) Monitor a trust director; or(ii) Inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the director; and(b) By taking an action described in (a) of this subsection, a trustee does not assume the duty excluded by (a) of this subsection.(2) Unless the terms of a trust provide otherwise: (a) A trust director does not have a duty to: (i) Monitor a trustee or another trust director; or(ii) Inform or give advice to a settlor, beneficiary, trustee, or another trust director concerning an instance in which the director might have acted differently than a trustee or another trust director; and(b) By taking an action described in (a) of this subsection, a trust director does not assume the duty excluded by (a) of this subsection.Added by 2020 c 303,§ 11, eff. 1/1/2021.