Chapter 02 - Duties And Liabilities Of Trustees

Chapter 02 - Duties And Liabilities Of Trustees

§ 55-2-1 Trustee's obligation of good faith.
§ 55-2-2 Trustee not to use property for his own benefit--Profit of trustee from use of property, extent of liability.
§ 55-2-3 Transactions involving interest of trustee adverse to beneficiary prohibited--Exceptions.
§ 55-2-4 Trustee's influence not to be used for his advantage.
§ 55-2-5 Trustee not to assume a trust adverse to the interest of beneficiary.
§ 55-2-6 Adverse interest of trustee--Information to beneficiary--Removal of trustee.
§ 55-2-7 Fraud against beneficiary of trust.
§ 55-2-8 Presumption against trustee.
§ 55-2-9 Liability of trustee mingling trust property with his own.
§ 55-2-10 Measure of liability for unauthorized use or disposal of trust property--Intent to serve interest of beneficiary.
§ 55-2-11 Liability for acts of cotrustee.
§ 55-2-12 Liability of successor trustee.
§ 55-2-13 Notice to qualified beneficiaries of existence of trust--Written directions--Information to be provided to excluded fiduciaries.
§ 55-2-14 Duty to provide information regarding revocable trust and its administration.
§ 55-2-15 Trustee authorized to distribute income or principal from first trust may appoint all or part in favor of trustee of second trust--Restrictions--Power of appointment to beneficiary of second trust.
§ 55-2-16 Action that may not be taken by restricted trustee may be taken by another unrestricted trustee.
§ 55-2-17 Conditions under which beneficiary has power to change trustees.
§ 55-2-18 Exercise of power to distribute income or principal by written instrument--Notice to beneficiaries of first trust.
§ 55-2-19 Exercise of power to distribute income or principal considered exercise of power of appointment.
§ 55-2-20 Impermissible use of power.
§ 55-2-21 Trustee's right to distribute income or principal in trust arising under law or terms of first trust not abridged.
§ 55-2-22 Fiduciary duty to determine that substituted property is of equivalent value.
§ 55-2-23 Reliance of excluded fiduciaries and trustees on tax information.

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