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2021 Kansas Statutes
Chapter 9 - Banks And Banking; Trust Companies
Article 23 - Technology-enabled Fiduciary Financial Institutions
9-2318 Indemnification of trust advisor; exceptions.
Universal Citation:
KS Stat § 9-2318 (2021)
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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, ยง 18; July 1.
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