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11.98A.050 Measure of liability for breach of duty—Excuse from liability.

WA Rev Code § 11.98A.050 (2019) (N/A)
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RCW 11.98A.050 Measure of liability for breach of duty—Excuse from liability.

(1) If the statutory trust advisor commits a breach of fiduciary duty, the statutory trust advisor is chargeable in the same manner as a trustee under RCW 11.98.085.

(2) Anything in this Title 11 RCW to the contrary notwithstanding, if the statutory trust advisor has acted reasonably and in good faith under the circumstances as known to the statutory trust advisor, the court, in its discretion, may excuse the statutory trust advisor in whole or in part from liability under subsection (1) of this section if it would be equitable to do so.

(3) The provisions in this section for liability of a statutory trust advisor for breach of fiduciary duty do not prevent resort to any other remedy available under the statutory or common law.

[ 2015 c 115 § 8.]

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