West Virginia Code 44D-8A-813 – Limitation of action against trust director
Current as of: 2023 | Check for updates
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(a) An action against a trust director for breach of trust must be commenced within the same limitation period as provided in § 44D-10-1005 of this code for an action for breach of trust against a trustee in a like position and under similar circumstances.
Terms Used In West Virginia Code 44D-8A-813
- 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.
(b) A report or accounting has the same effect on the limitation period for an action against a trust director for breach of trust that the report or accounting would have under § 44D-10-1005 of this code in an action for breach of trust against a trustee in a like position and under similar circumstances.