§44D-8A-807. Limitations on Trust Director
A trust director is subject to the same rules as a trustee in a like position and under similar circumstances in the exercise or nonexercise of a power of direction or further power under 44D-8A-806(b)(1) of this code regarding: (1) A payback provision in the terms of a trust necessary to comply with the reimbursement […]
§44D-8A-808. Duty and Liability of Trust Director
(a) Subject to subsection (b) of this section, with respect to a power of direction or further power under 44D-8A-806(b)(1) of this code: (1) A trust director has the same fiduciary duty and liability in the exercise or nonexercise of the power:
§44D-8A-809. Duty and Liability of Directed Trustee
(a) Subject to subsection (b) of this section, a directed trustee shall take reasonable action to comply with a trust directors exercise or nonexercise of a power of direction or further power under 44D-8A-806(b)(1) of this code, and the trustee is not liable for the action. (b) A directed trustee must not comply with a […]
§44D-8A-810. Duty to Provide Information to Trust Director or Trustee
(a) Subject to 44D-8A-811 of this code, a trustee shall provide information to a trust director to the extent the information is reasonably related both to: (1) The powers or duties of the trustee; and
§44D-8A-801. Short Title
This article may be cited as the West Virginia Uniform Directed Trust Act.
§44D-8A-802. Definitions
In addition to the definitions contained in 44D-1-103 of this code, as used in this article: (1) “Breach of trust” means a violation by a trust director or trustee of a duty imposed on that director or trustee by the terms of the trust, this article, or law of this state, other than this article […]
§44D-8A-803. Application; Principal Place of Administration
The provisions of the West Virginia Uniform Directed Trust Act apply to a trust, whenever created, that has its principal place of administration in this state, subject to the following rules: (a) If the trust was created before the effective date of this article, this article applies only to a decision or action occurring on […]
§44D-8-808. Powers to Direct
The terms of a trust instrument which confer upon a person other than the grantor of a revocable trust power to direct certain actions of the trustee are governed by the provisions of the West Virginia Uniform Directed Trust Act contained in 44D-8A-801 et seq. of this code.
§44D-8-809. Control and Protection of Trust Property
A trustee shall take reasonable steps to take control of and protect the trust property.
§44D-8-810. Recordkeeping and Identification of Trust Property
(a) A trustee shall keep adequate records of the administration of the trust. (b) A trustee shall keep trust property separate from the trustee's own property. (c) Except as otherwise provided in subsection (d) of this section, a trustee shall cause the trust property to be designated so that the interest of the trust, to […]