47-14A-26. Trustee acting in reliance on governing instrument not liable to trust or beneficial owner–Duties determined by governing instrument.
To the extent that, at law or in equity, a trustee has duties (including fiduciary duties) and liabilities relating thereto to a business trust or to a beneficial owner:
(1)Any such trustee acting under a governing instrument is not liable to the business trust or to any such beneficial owner for the trustee’s good faith reliance on the provisions of such governing instrument; and
(2)The trustee’s duties and liabilities may be expanded or restricted by provisions in a governing instrument.
Source: SL 2001, ch 245, §26.