2-3-914. Trustee's liability.
Any trustee or disinterested person who in good faith takes or fails to take any action under this act shall not be liable to any person affected by the action or inaction, regardless of whether the person received written notice as provided in this act and regardless of whether the person was under a legal disability at the time of the delivery of the notice. The person's exclusive remedy shall be to obtain an order of the district court directing the trustee to convert an income trust to a total return unitrust, to reconvert from a total return unitrust to an income trust or to change the percentage used to calculate the unitrust amount.
Structure Wyoming Statutes
Title 2 - Wills, Decedents' Estates and Probate Code
Article 9 - Wyoming Unitrust Act
Section 2-3-901 - Short Title.
Section 2-3-902 - Definitions.
Section 2-3-903 - Unitrust Election by Trustee; Requirements to Make Unitrust Election.
Section 2-3-905 - Unitrust Election by Beneficiary; Ability to Request Trustee Action.
Section 2-3-906 - Settlor Created Unitrust.
Section 2-3-908 - Unitrust Percentages.
Section 2-3-909 - Treatment and Allocation of Income.
Section 2-3-910 - Administration.
Section 2-3-911 - Treatment of Underpayments or Overpayments.
Section 2-3-912 - Effect of Conversion on Governing Instrument.
Section 2-3-914 - Trustee's Liability.
Section 2-3-915 - Judicial Control of Discretionary Powers.