West Virginia Code 44D-8A-810 – Duty to provide information to trust director or trustee
(a) Subject to § 44D-8A-811 of this code, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:
Terms Used In West Virginia Code 44D-8A-810
- Breach of trust: means a violation by a trust director or trustee of a duty imposed on that director or trustee by the terms of the trust, this article, or law of this state, other than this article pertaining to trusts. See West Virginia Code 44D-8A-802
- 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. See West Virginia Code 44D-8A-802
- Trustee: A person or institution holding and administering property in trust.
- Willful misconduct: means intentional malicious conduct or conduct intentionally designed to defraud or seek an unconscionable advantage and which is not mere negligence, gross negligence, or recklessness. See West Virginia Code 44D-8A-802
(1) The powers or duties of the trustee; and
(2) The powers or duties of the director.
(b) Subject to § 44A-8A-811 of this code, a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related both to:
(1) The powers or duties of the director; and
(2) The powers or duties of the trustee or other director.
(c) A trustee that acts in reliance upon 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.
(d) A trust director that acts in reliance upon 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.