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2021 Statute



Prev Article 23. - TECHNOLOGY-ENABLED FIDUCIARY FINANCIAL INSTITUTIONSNext


9-2318. Indemnification of trust advisor; exceptions. An instrument may relieve and indemnify a trust advisor and a fiduciary financial institution that serves as trustee of a fidfin trust or alternative asset custody account from liability for a breach of fiduciary duty if any such provision is unenforceable to the extent that it relieves the trust advisor or fiduciary financial institution from liability for a breach of fiduciary duty committed:

(a) In bad faith;

(b) intentionally; or

(c) with reckless indifference to the interest of a beneficiary.

History: L. 2021, ch. 80, § 18; July 1.



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2024. Powered by KLISS. Rendered: 2024-03-28T09:30:36. Head Rev No: 893615(E)