72-38-1010. Limitation on personal liability of trustee. (1) Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into in the trustee's fiduciary capacity in the course of administering the trust if the trustee in the contract disclosed the fiduciary capacity.
(2) A trustee is personally liable for torts committed in the course of administering a trust or for obligations arising from ownership or control of trust property, including liability for violation of environmental law, only if the trustee is personally at fault.
(3) A claim based on a contract entered into by a trustee in the trustee's fiduciary capacity, on an obligation arising from ownership or control of trust property, or on a tort committed in the course of administering a trust, may be asserted in a judicial proceeding against the trustee in the trustee's fiduciary capacity, whether or not the trustee is personally liable for the claim.
History: En. Sec. 127, Ch. 264, L. 2013.
Structure Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 38. Montana Uniform Trust Code
Part 10. Liability of Trustees and Rights of Persons Dealing with Trustee
72-38-1001. Remedies for breach of trust
72-38-1002. Damages for breach of trust
72-38-1003. Damages in absence of breach
72-38-1004. Attorney fees and costs
72-38-1005. Limitation of action against trustee
72-38-1006. Reliance on trust instrument
72-38-1007. Event affecting administration or distribution
72-38-1008. Exculpation of trustee
72-38-1009. Beneficiary's consent, release, or ratification
72-38-1010. Limitation on personal liability of trustee
72-38-1011. Interest as general partner