No trustee, cotrustee, successor cotrustee, or successor trustee serving pursuant to the provisions of this chapter shall at any time be liable for any mistake of law or fact, or of both law and fact, or errors of judgment, or for any loss sustained by a community trust, or by any life beneficiary, or by any other person, except through actual fraud or willful misconduct on the part of such trustee, cotrustee, successor cotrustee, or successor trustee.
History. Code 1981, § 30-10-8 , enacted by Ga. L. 1996, p. 804, § 2; Ga. L. 1997, p. 576, § 4.
Code Commission notes.
Pursuant to Code Section 28-9-5, in 1996, “Community Trust” was lower-cased in one place and “cotrustee” was substituted for “co-trustee” in three places.
Law reviews.
For article commenting on the 1997 amendment of this Code section, see 14 Ga. St. U.L. Rev. 167 (1997).