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Current as of May 05, 2022 | Updated by FindLaw Staff
A trustee of a real estate investment trust shall be governed by all the provisions of the declaration of trust and is not liable for any claims or damages that may result from his acts in the discharge of any duty imposed or power conferred upon him by the trust, if he exercises ordinary care, and acts in good faith, but shall be liable for his own willful misfeasance or malfeasance. Persons dealing with the trust through the trustees or agents shall look to the trust estate for performance of obligations.
Cite this article: FindLaw.com - Utah Code Title 16. Corporations § 16-12-6. Trustee governed by declaration of trust--Liability - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-16-corporations/ut-code-sect-16-12-6/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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