Section 38-9B-7 Trustee liability. - Alabama Statutes

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Section 38-9B-7

Trustee liability.

No trustee, co-trustee, or successor trustee serving pursuant to the provisions of this chapter shall at any time be liable for any mistake of law or fact, or of both law and fact, or errors of judgment, or for any loss sustained by the AFT Trust or AFT Charitable Trust, or by any life beneficiary, or by any other person, except through actual fraud or willful misconduct on the part of such trustee, co-trustee, or successor co-trustee.

(Acts 1994, No. 94-579, p. 1054, §7.)

State Codes and Statutes

Statutes > Alabama > Title38 > Chapter9B > 38-9B-7

Section 38-9B-7

Trustee liability.

No trustee, co-trustee, or successor trustee serving pursuant to the provisions of this chapter shall at any time be liable for any mistake of law or fact, or of both law and fact, or errors of judgment, or for any loss sustained by the AFT Trust or AFT Charitable Trust, or by any life beneficiary, or by any other person, except through actual fraud or willful misconduct on the part of such trustee, co-trustee, or successor co-trustee.

(Acts 1994, No. 94-579, p. 1054, §7.)

State Codes and Statutes

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State Codes and Statutes

Statutes > Alabama > Title38 > Chapter9B > 38-9B-7

Section 38-9B-7

Trustee liability.

No trustee, co-trustee, or successor trustee serving pursuant to the provisions of this chapter shall at any time be liable for any mistake of law or fact, or of both law and fact, or errors of judgment, or for any loss sustained by the AFT Trust or AFT Charitable Trust, or by any life beneficiary, or by any other person, except through actual fraud or willful misconduct on the part of such trustee, co-trustee, or successor co-trustee.

(Acts 1994, No. 94-579, p. 1054, §7.)