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CHAPTER 55-2

DUTIES AND LIABILITIES OF TRUSTEES

55-2-1      Trustee's obligation of good faith.
55-2-2      Trustee not to use property for his own benefit--Profit of trustee from use of property, extent of liability.
55-2-3      Transactions involving interest of trustee adverse to beneficiary prohibited--Exceptions.
55-2-4      Trustee's influence not to be used for his advantage.
55-2-5      Trustee not to assume a trust adverse to the interest of beneficiary.
55-2-6      Adverse interest of trustee--Information to beneficiary--Removal of trustee.
55-2-7      Fraud against beneficiary of trust.
55-2-8      Presumption against trustee.
55-2-9      Liability of trustee mingling trust property with his own.
55-2-10      Measure of liability for unauthorized use or disposal of trust property--Intent to serve interest of beneficiary.
55-2-11      Liability for acts of cotrustee.
55-2-12      Liability of successor trustee.
55-2-13      Notice to qualified beneficiaries of existence of trust--Written directions--Information to be provided to excluded fiduciaries.
55-2-14      Duty to provide information regarding revocable trust and its administration.
55-2-15      Trustee authorized to distribute income or principal from first trust may appoint all or part in favor of trustee of second trust--Restrictions--Power of appointment to beneficiary of second trust.
55-2-16      Action that may not be taken by restricted trustee may be taken by another unrestricted trustee.
55-2-17      Conditions under which beneficiary has power to change trustees.
55-2-18      Exercise of power to distribute income or principal by written instrument--Notice to beneficiaries of first trust.
55-2-19      Exercise of power to distribute income or principal considered exercise of power of appointment.
55-2-20      Impermissible use of power.
55-2-21      Trustee's right to distribute income or principal in trust arising under law or terms of first trust not abridged.
55-2-22      Fiduciary duty to determine that substituted property is of equivalent value.

55-2-23      Reliance of excluded fiduciaries and trustees on tax information.


Back to Title 55