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Connecticut General Statutes Title 45A. Probate Courts and Procedure § 45a-500h. Duty and liability of trust director

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Subject to the provisions of subsection (b) of this section, with respect to a power of direction or further power under subdivision (1) of subsection (b) of section 45a-500f:

(1) A trust director has the same fiduciary duty and liability in the exercise or nonexercise of the power:

(A) If the power is held individually, as a sole trustee in a like position and under similar circumstances; or

(B) If the power is held jointly with a trustee or another trust director, as a cotrustee in a like position and under similar circumstances; and

(2) The terms of the trust may vary the director's duty or liability to the same extent the terms of the trust could vary the duty or liability of a trustee in a like position and under similar circumstances.

(b) Unless the terms of a trust provide otherwise, if a trust director is licensed, certified, or otherwise authorized or permitted by law other than sections 45a-500b to 45a-500s, inclusive, to provide health care in the ordinary course of the director's business or practice of a profession, to the extent the director acts in that capacity, the director has no duty or liability under sections 45a-500b to 45a-500s, inclusive.

(c) The terms of a trust may impose a duty or liability on a trust director in addition to the duties and liabilities under this section.

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Cite this article: FindLaw.com - Connecticut General Statutes Title 45A. Probate Courts and Procedure § 45a-500h. Duty and liability of trust director - last updated January 01, 2025 | https://codes.findlaw.com/ct/title-45a-probate-courts-and-procedure/ct-gen-st-sect-45a-500h/

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