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2016 Statute



Prev Article 10. - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEENext


58a-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 administering a trust, or for obligations arising from ownership or control of trust property, including liability for violation of environmental law, only if the trustee is personally at fault.

(c) A claim based on a contract entered into by a trustee in the trustee's fiduciary capacity, on an obligation arising from ownership or control of trust property or on a tort committed in the course of administering a trust, may be asserted in a judicial proceeding against the trustee in the trustee's fiduciary capacity, whether or not the trustee is personally liable for the claim.

History: L. 2002, ch. 133, § 85; Jan. 1, 2003.



Prev Article 10. - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEENext
2017. Powered by KLISS. Rendered: 2017-12-10T07:24:17. Head Rev No: 341153