2019 Nebraska Revised Statutes
Chapter 30 - DECEDENTS' ESTATES; PROTECTION OF PERSONS AND PROPERTY
30-4310 (UDTA 10) Duty to provide information to trust director or trustee.
30-4310. (UDTA 10) Duty to provide information to trust director or trustee.
(UDTA 10) (a) Subject to section 30-4311, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:
(1) the powers or duties of the trustee; and
(2) the powers or duties of the director.
(b) Subject to section 30-4311, a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related both to:
(1) the powers or duties of the director; and
(2) the powers or duties of the trustee or other director.
(c) A trustee that acts in reliance on information provided by a trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trustee engages in willful misconduct.
(d) A trust director that acts in reliance on information provided by a trustee or another trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trust director engages in willful misconduct.
Source
- Laws 2019, LB536, ยง 10.
- Effective Date: September 1, 2019
