Subdivision 1. Occurrence of breach. A fiduciary breach occurs if a fiduciary violates the general standard of fiduciary conduct as specified in section 356A.04 in carrying out the activities of a fiduciary. A fiduciary breach also occurs if a fiduciary of a covered pension plan violates the provisions of section 356A.06, subdivision 9.
Subd. 2. Remedies. Remedies available for a fiduciary breach by a fiduciary are those specified by statute or available at common law.
History: 1989 c 319 art 7 s 9
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