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2019 Minnesota Statutes
Chapters 500 - 515B — Property And Property Interests
Chapter 501C — Trusts
Section 501C.1002 — Damages For Breach Of Trust.
Universal Citation: MN Stat § 501C.1002 (2019)
501C.1002 DAMAGES FOR BREACH OF TRUST.
(a) A trustee who commits a breach of trust is liable for the greater of:
(1) the amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or
(2) the profit the trustee made by reason of the breach.
(b) If more than one trustee is liable for a breach of trust, a trustee is entitled to contribution or indemnity from the other trustee or trustees as the court may determine.
History: 2015 c 5 art 10 s 2
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