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58a-1012

Chapter 58a.--KANSAS UNIFORM TRUST CODE Article 10.--LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEE

58a-1012. Protection of person dealing withtrustee.(a)A person other than a beneficiary who in good faith assists a trustee, or whoingood faith and for value deals with a trustee, without knowledge that thetrustee is exceeding orimproperly exercising the trustee's powers is protected from liability as ifthe trustee properlyexercised the power.

(b) A person other than a beneficiary who in good faith deals with atrustee is notrequired to inquire into the extent of the trustee's powers or the propriety oftheir exercise.

(c) A person who in good faith delivers assets to a trustee need not ensuretheir properapplication.

(d) A person other than a beneficiary who in good faith assists a formertrustee, or who in good faith and for value deals with a former trustee,without knowledge that the trusteeship hasterminated is protected from liability as if the former trustee were still atrustee.

(e) Comparable protective provisions of other laws relating to commercialtransactionsor transfer of securities by fiduciaries prevail over the protection providedby this section.

History: L. 2002, ch. 133, § 87; Jan. 1, 2003.

State Codes and Statutes

Statutes > Kansas > Chapter58a > Article10 > Statutes_23149

58a-1012

Chapter 58a.--KANSAS UNIFORM TRUST CODE Article 10.--LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEE

58a-1012. Protection of person dealing withtrustee.(a)A person other than a beneficiary who in good faith assists a trustee, or whoingood faith and for value deals with a trustee, without knowledge that thetrustee is exceeding orimproperly exercising the trustee's powers is protected from liability as ifthe trustee properlyexercised the power.

(b) A person other than a beneficiary who in good faith deals with atrustee is notrequired to inquire into the extent of the trustee's powers or the propriety oftheir exercise.

(c) A person who in good faith delivers assets to a trustee need not ensuretheir properapplication.

(d) A person other than a beneficiary who in good faith assists a formertrustee, or who in good faith and for value deals with a former trustee,without knowledge that the trusteeship hasterminated is protected from liability as if the former trustee were still atrustee.

(e) Comparable protective provisions of other laws relating to commercialtransactionsor transfer of securities by fiduciaries prevail over the protection providedby this section.

History: L. 2002, ch. 133, § 87; Jan. 1, 2003.

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State Codes and Statutes

Statutes > Kansas > Chapter58a > Article10 > Statutes_23149

58a-1012

Chapter 58a.--KANSAS UNIFORM TRUST CODE Article 10.--LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEE

58a-1012. Protection of person dealing withtrustee.(a)A person other than a beneficiary who in good faith assists a trustee, or whoingood faith and for value deals with a trustee, without knowledge that thetrustee is exceeding orimproperly exercising the trustee's powers is protected from liability as ifthe trustee properlyexercised the power.

(b) A person other than a beneficiary who in good faith deals with atrustee is notrequired to inquire into the extent of the trustee's powers or the propriety oftheir exercise.

(c) A person who in good faith delivers assets to a trustee need not ensuretheir properapplication.

(d) A person other than a beneficiary who in good faith assists a formertrustee, or who in good faith and for value deals with a former trustee,without knowledge that the trusteeship hasterminated is protected from liability as if the former trustee were still atrustee.

(e) Comparable protective provisions of other laws relating to commercialtransactionsor transfer of securities by fiduciaries prevail over the protection providedby this section.

History: L. 2002, ch. 133, § 87; Jan. 1, 2003.