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30-4-9-10. Providing information to a trust director; liability; breach of trust

IN Code § 30-4-9-10 (2019) (N/A)
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Sec. 10. (a) Subject to section 11 of this chapter, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:

(1) the powers or duties of the trustee; and

(2) the powers or duties of the director.

(b) Subject to section 11 of this chapter, a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related to:

(1) the powers or duties of the director; and

(2) the powers or duties of the trustee or other director.

(c) 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 so acting, the trustee engages in willful misconduct.

(d) 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 so acting, the trust director engages in willful misconduct.

As added by P.L.221-2019, SEC.10.

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30-4-9-11. Duties of trust director and trustee under the terms of the trust