§2111. No duty to monitor, inform or advise
1.
Trustee.
Unless the terms of a trust provide otherwise:
A.
A trustee does not have a duty to:
(1)
Monitor a trust director; or
(2)
Inform or give advice to a settlor, beneficiary, trustee or trust director concerning an instance in which the trustee might have acted differently than the director; and
[PL 2019, c. 301, §8 (NEW).]
B.
By taking an action described in paragraph A, a trustee does not assume the duty excluded by paragraph A.
[PL 2019, c. 301, §8 (NEW).]
[PL 2019, c. 301, §8 (NEW).]
2.
Trust director.
Unless the terms of a trust provide otherwise:
A.
A trust director does not have a duty to:
(1)
Monitor a trustee or another trust director; or
(2)
Inform or give advice to a settlor, beneficiary, trustee or another trust director concerning an instance in which the director might have acted differently than a trustee or another trust director; and
[PL 2019, c. 301, §8 (NEW).]
B.
By taking an action described in paragraph A, a trust director does not assume the duty excluded by paragraph A.
[PL 2019, c. 301, §8 (NEW).]
[PL 2019, c. 301, §8 (NEW).]
SECTION HISTORY
PL 2019, c. 301, §8 (NEW).