House Status:
Senate Status:
Senate Status:
2023 Statute
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9-2318. An instrument may relieve and indemnify a trust advisor and a fiduciary financial institution that serves as trustee of a fidfin trust or alternative asset custody account from liability for a breach of fiduciary duty. Any such provision is unenforceable to the extent that it relieves the trust advisor or fiduciary financial institution from liability for a breach of fiduciary duty committed: (a) In bad faith; (b) intentionally; or (c) with reckless indifference to the interest of a beneficiary. |
History: L. 2021, ch. 80, § 18; L. 2022, ch. 55, § 11; July 1. |
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2024. Powered by KLISS. Rendered: 2024-06-16T08:26:00. Head Rev No: 787010(I)