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K.S.A. 58-5010

Duty to provide information to trust director or trustee

L. 2022, ch. 16, § 10; July 1.

(a) Subject to K.S.A. 58-5011 , and amendments thereto, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:

(1) The powers or duties of the trustee; and

(2) the powers or duties of the director.

(b) Subject to K.S.A. 58-5011 , and amendments thereto, a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related both to:

(1) The powers or duties of the director; and

(2) the powers or duties of the trustee or other director.

(c) A trustee that acts in reliance on information provided by a trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trustee engages in willful misconduct.

(d) A trust director that acts in reliance on information provided by a trustee or another trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trust director engages in willful misconduct.

Official source: Kansas Office of Revisor of Statutes. Reproduced from public-domain Kansas statutes; confirm against the official source for the current text. Not legal advice.