Section 110 – Duty to provide information to trust director or trustee.

• (1) Subject to Section 75-12-111, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:
  • (a) the powers or duties of the trustee; and
  • (b) the powers or duties of the director.

• (2) Subject to Section 75-12-111, a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related both to:
  • (a) the powers or duties of the director; and
  • (b) the powers or duties of the trustee or other director.

• (3) A trustee that acts in reliance on information provided by a trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless, by acting, the trustee engages in willful misconduct.

• (4) A trust director that acts in reliance on information provided by a trustee or another trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless, by acting, the trust director engages in willful misconduct.

Enacted by Chapter 153, 2019 General Session