Section 456.10-1009 – Beneficiary’s consent, release, or ratification.
Effective – 01 Jan 2005 456.10-1009. Beneficiary’s consent, release, or ratification. — A trustee is not liable to a beneficiary for breach of trust if the beneficiary, while having capacity, consented to the conduct constituting the breach, released the trustee from liability for the breach, or ratified the transaction constituting the breach, unless: (1) the […]
Section 456.10-1010 – Limitation on personal liability of trustee.
Effective – 01 Jan 2005 456.10-1010. Limitation on personal liability of trustee. — 1. 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. […]
Section 456.10-1011 – Interest as general partner.
Effective – 01 Jan 2005 456.10-1011. Interest as general partner. — 1. Except as otherwise provided in subsection 3 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 […]
Section 456.10-1012 – Protection of person dealing with trustee.
Effective – 01 Jan 2005 456.10-1012. Protection of person dealing with trustee. — 1. 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 […]
Section 456.10-1013 – Certification of trust.
Effective – 01 Jan 2005 456.10-1013. Certification of trust. — 1. 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; […]
Section 456.11-1101 – Uniformity of application and construction.
Effective – 01 Jan 2005 456.11-1101. Uniformity of application and construction. — In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. ——– (L. 2004 H.B. 1511) Effective 1-01-05
Section 456.11-1102 – Electronic records and signatures.
Effective – 01 Jan 2005 456.11-1102. Electronic records and signatures. — Sections 456.1-101 to 456.11-1106 modify, limit, and supersede the federal Electronic Signatures in Global and National Commerce Act (15 U.S.C. Section 7001, et seq.) but do not modify, limit, or supersede Section 101(c) of that act (15 U.S.C. Section 7001(c)) or authorize electronic delivery […]
Section 456.11-1103 – Severability clause.
Effective – 01 Jan 2005 456.11-1103. Severability clause. — If any provision of sections 456.1-101 to 456.11-1106 or its application to any person or circumstances is held invalid, the invalidity does not affect other provisions or applications of sections 456.1-101 to 456.11-1106 which can be given effect without the invalid provision or application, and to […]
Section 456.11-1104 – Effective date.
Effective – 01 Jan 2005 456.11-1104. Effective date. — Sections 456.1-101 to 456.11-1106 take effect on January 1, 2005. ——– (L. 2004 H.B. 1511) Effective 1-01-05
Section 456.11-1106 – Application to existing relationships.
Effective – 01 Jan 2005 456.11-1106. Application to existing relationships. — 1. Except as otherwise provided in sections 456.1-101 to 456.11-1106, on January 1, 2005: (1) Sections 456.1-101 to 456.11-1106 apply to all trusts created before, on, or after January 1, 2005; (2) Sections 456.1-101 to 456.11-1106 apply to all judicial proceedings concerning trusts commenced […]