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Minn. Stat. § 501C.1003

REMEDIES IN ABSENCE OF BREACH.

Known as the Minnesota Trust Code

The act spans §§ 501C.0101 to 501C.1304 (98 sections).

2015 c 5 art 10 s 3

(a) A trustee is chargeable for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust.

(b) Absent a breach of trust, a trustee is not liable for a loss or depreciation in the value of trust property or for not having made a profit.

(c) This section does not limit a trustee's right to payments that are permitted under section 501C.0802 .

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