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Ind. Code § 30-4-9-11

Duties of trust director and trustee under the terms of the trust

Known as the Uniform Directed Trust Act

The act spans §§ 30-4-9-1 to 30-4-9-9 (17 sections).

As added by P.L.221-2019, SEC.10.

Sec. 11. (a) Unless the terms of a trust provide otherwise:

(1) a trustee does not have a duty to:

(A) monitor a trust director; or

(B) inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the director; and

(2) by taking an action described in subdivision (1), a trustee does not assume the duty excluded by subdivision (1).

(b) Unless the terms of a trust provide otherwise:

(1) a trust director does not have a duty to:

(A) monitor a trustee or another trust director; or

(B) inform or give advice to a settlor, beneficiary, trustee, or another trust director concerning an instance in which the director might have acted differently than a trustee or another trust director; and

(2) by taking an action described in subdivision (1), a trust director does not assume the duty excluded by subdivision (1).

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.