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D.C. Code § 29-1205.06

Reasonable reliance

Known as the Uniform Statutory Trust Entity Act

The act spans §§ 29–29 (66 sections).

July 2, 2011, D.C

A trustee, officer, employee, manager, or committee of a statutory trust, or other person designated pursuant to § 29-1201.03(e)(8) or (9) is not liable to the trust or to a beneficial owner for breach of any duty, including a fiduciary duty, to the extent the breach results from reasonable reliance on:

(1) A term of the governing instrument;

(2) A record of the statutory trust; or

(3) An opinion, report, or statement of another person that the trustee reasonably believes is within the other person’s professional or expert competence and is made or delivered to the trustee, officer, employee, manager, or committee of a statutory trust or other person designated pursuant to § 29-1201.03(e)(8) or (9).

Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.