72-40-114. Duty to provide information to trust director or trustee. (1) Subject to 72-40-115, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:
(a) the powers or duties of the trustee; and
(b) the powers or duties of the director.
(2) Subject to 72-40-115, a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related both to:
(a) the powers or duties of the director; and
(b) the powers or duties of the trustee or other director.
(3) A trustee that acts in reliance on information provided by a trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trustee engages in willful misconduct.
(4) A trust director that acts in reliance on information provided by a trustee or another trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trust director engages in willful misconduct.
History: En. Sec. 10, Ch. 325, L. 2021.
Structure Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 40. Uniform Directed Trust Act
72-40-103. Application -- principal place of administration
72-40-104. Common law and principles of equity
72-40-106. through 72-40-109 reserved
72-40-110. Powers of trust director
72-40-111. Limitations on trust director
72-40-112. Duty and liability of trust director
72-40-113. Duty and liability of directed trustee
72-40-114. Duty to provide information to trust director or trustee
72-40-115. No duty to monitor, inform, or advise
72-40-116. Application to cotrustee
72-40-117. Limitation of action against trust director
72-40-118. Defenses in action against trust director
72-40-119. Jurisdiction over trust director
72-40-120. Office of trust director
72-40-121. Uniformity of application and construction
72-40-122. Relation to electronic signatures in global and national commerce act