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Haw. Rev. Stat. § 554D-1012

Protection of person dealing with trustee

Known as the Uniform Trust Code

The act spans §§ 554–554 (99 sections).

L 2021, c 32, pt of §2

(a) A person, other than a beneficiary, who in good faith assists a trustee or who in good faith and for value deals with a trustee, without actual knowledge that the trustee is exceeding or improperly exercising the trustee's powers, shall be protected from liability as if the trustee properly exercised the power.

(b) A person, other than a beneficiary, who in good faith deals with a trustee shall not be required to inquire into the extent of the trustee's powers or the propriety of their exercise.

(c) A person who in good faith delivers assets to a trustee shall not be required to ensure their proper application.

(d) A person, other than a beneficiary, who in good faith assists a former trustee or who in good faith and for value deals with a former trustee, without actual knowledge that the trusteeship has terminated, shall be protected from liability as if the former trustee were still a trustee.

(e) Comparable protective provisions of other laws relating to commercial transactions or transfer of securities by fiduciaries shall prevail over the protection provided by this section.

Official source: Hawaii State Legislature. Reproduced from public-domain Hawaii statutes; confirm against the official source for the current text. Not legal advice.