Sec. 7902.
A trustee who commits a breach of trust is liable to the trust beneficiaries affected for whichever of the following is larger:
(a) The amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred.
(b) The profit the trustee made by reason of the breach.
History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
Structure Michigan Compiled Laws
Chapter 700 - Estates and Protected Individuals Code
Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)
Article VII - Michigan Trust Code (700.7101...700.7913)
Section 700.7901 - Remedies for Breach of Trust.
Section 700.7902 - Breach of Trust; Liability; Damages.
Section 700.7903 - Damages in Absence of Breach.
Section 700.7905 - Commencement of Proceedings; Limitations.
Section 700.7906 - Reliance on Trust Instrument.
Section 700.7907 - Event Affecting Administration or Distribution.
Section 700.7908 - Exculpation of Trustee.
Section 700.7909 - Beneficiary's Consent, Release, or Ratification of Transaction.
Section 700.7910 - Personal Liability of Trustee; Limitation.
Section 700.7911 - Interest as General Partner.
Section 700.7912 - Protection of Person Dealing With Trustee.