An excluded fiduciary is not liable for (i) any loss resulting from any action or inaction of a trustee, trust advisor, or trust protector or (ii) any loss that results from the failure of a trustee, trust advisor, or trust protector to take any action proposed by the excluded fiduciary where such action requires the authorization of the trustee, trust advisor, or trust protector, provided that an excluded fiduciary who had a duty to propose such action timely sought but failed to obtain the authorization.
N.H. Rev. Stat. Ann. § 564-B:12-1205
Fiduciary's Liability for Action or Inaction of Trustee, Trust Advisor, and Trust Protector
Known as the New Hampshire Trust Code
The act spans §§ 564-B:10-1001 to 564-B:9-907 (130 sections).
Source. 2006, 320:67, eff
Official source: New Hampshire General Court. Reproduced from public-domain New Hampshire statutes; confirm against the official source for the current text. Not legal advice.