Neb. Rev. Stat. §§ 30-4311

Current with changes through the 2024 First Special Legislative Session

Section 30-4311 - (UDTA 11) No duty to monitor, inform, or advise

(UDTA 11)

(a) Unless the terms of a trust provide otherwise:

(1) a trustee does not have a duty to:

(A) monitor a trust director; or

(B) 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

(2) by taking an action described in subdivision (a)(1) of this section, a trustee does not assume the duty excluded by such subdivision.

(b) Unless the terms of a trust provide otherwise:

(1) a trust director does not have a duty to:

(A) monitor a trustee or another trust director; or

(B) 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

(2) by taking an action described in subdivision (b)(1) of this section, a trust director does not assume the duty excluded by such subdivision.

Neb. Rev. Stat. §§ 30-4311

Laws 2019, LB 536, § 11.

Added by Laws 2019, LB 536,§ 11, eff. 9/1/2019.