(1)  Subject to Section 75-12-111, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:

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Terms Used In Utah Code 75-12-110

  • Breach of trust: includes a violation by a trust director or trustee of a duty imposed on the director or trustee by the terms of the trust, this chapter, or the law of this state other than this chapter pertaining to trusts. See Utah Code 75-12-102
  • Trust director: means a person that is granted a power of direction by the terms of a trust to the extent the power is exercisable while the person is not serving as a trustee, regardless of whether:
(a) the terms of the trust refer to the person as a trust director; or
(b) the person is a beneficiary or settlor of the trust. See Utah Code 75-12-102
  • Trustee: includes an original, additional, and successor trustee, and a cotrustee. See Utah Code 75-12-102
  • Trustee: A person or institution holding and administering property in trust.
    • (a)  the powers or duties of the trustee; and

    (b)  the powers or duties of the director.

    (2)  Subject to Section 75-12-111, 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 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 acting, the trust director engages in willful misconduct.

    Enacted by Chapter 153, 2019 General Session

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