55-2-12. Liability and duties of successor trustee for agreements, contracts or actions of predecessor fiduciary.

Unless otherwise provided in the trust agreement, a successor trustee:

(1)    Is not individually liable for actions or inactions of a predecessor fiduciary, including agreements, contracts accountings, records, distributions, investments, modifications, reformations, or other acts entered into by its predecessor fiduciary; and

(2)    Does not have a duty to:

(a)    Confirm or validate such predecessor fiduciary's actions or inactions;

(b)    Confirm the validity of the trust agreement; or

(c)    Prosecute or seek redress for any action or inaction by the predecessor fiduciary.

Source: SL 1991, ch 229, § 2; SL 2021, ch 207, § 10.