Section 46A-10-1009 – Beneficiary’s consent, release or ratification.
A trustee is not liable to a beneficiary for breach of trust if the beneficiary consented to the conduct constituting the breach, released the trustee from liability for the breach or ratified the transaction constituting the breach, unless: A. the consent, release or ratification of the beneficiary was induced by improper conduct of the trustee; […]
Section 46A-10-1010 – Limitation on personal liability of trustee.
A. Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into in the trustee’s fiduciary capacity in the course of administering the trust if the trustee in the contract disclosed the fiduciary capacity. B. A trustee is personally liable for torts committed in the course of […]
Section 46A-10-1011 – Interest as general partner.
A. Except as otherwise provided in Subsection C of this section or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust’s acquisition of the interest […]
Section 46A-10-1012 – Protection of person dealing with trustee.
A. A person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee’s powers is protected from liability as if the trustee properly exercised the power. B. A person other […]
Section 46A-10-1013 – Certification of trust.
A. Instead of furnishing a copy of the trust instrument to a person other than a beneficiary, the trustee may furnish to the person a certification of trust containing the following information: (1) that the trust exists and the date the trust instrument was executed; (2) the identity of the settlor; (3) the identity and […]
Section 46A-10-1002 – Damages for breach of trust.
A. A trustee who commits a breach of trust is liable to the beneficiaries affected for the greater of: (1) the amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or (2) the profit the trustee made by reason of […]
Section 46A-10-1003 – Damages in absence of breach.
A. 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. B. 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 […]
Section 46A-8-811 – Enforcement and defense of claims.
A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust. History: Laws 2003, ch. 122, § 8-811. ANNOTATIONS Effective dates. — Laws 2003, ch. 122, § 11-1106 made the act effective July 1, 2003.
Section 46A-8-812 – Collecting trust property.
A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee and to redress a breach of trust known to the trustee to have been committed by a former trustee. History: Laws 2003, ch. 122, § 8-812. ANNOTATIONS Effective dates. — Laws 2003, ch. 122, […]
Section 46A-8-813 – Duty to inform and report.
A. A trustee shall keep the qualified beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests. Unless unreasonable under the circumstances, a trustee shall promptly respond to a beneficiary’s request for information related to the administration of the trust. B. […]