"Fiduciary" includes guardians, committees, conservators, trustees,executors, administrators and administrators with the will annexed, curatorsof decedent's wills, and attorneys-in-fact or agents acting for principalsunder written powers of attorney; and the singular term includes anycombination of individuals, corporations, and other entities serving in thosecapacities.
"Individual capacity" means the nonfiduciary capacity of any individual,corporation, or other entity serving as a fiduciary.
"Environmental law" means any federal, state, or local law, rule,regulation, or ordinance relating to protection of the environment or humanhealth.
B. As to any property held in trust or in an estate, a fiduciary shall not beconsidered in its individual capacity to be (i) the "owner" or "operator"of that property as defined under any applicable environmental law or (ii) aparty otherwise liable under any environmental law unless the fiduciary'sacts or omissions outside the scope of its fiduciary duties constituteconduct that independently would give rise to individual liability.
C. A fiduciary shall not be liable in its individual capacity to anybeneficiary or other party for any decrease in value of assets in trust or inan estate by reason of the fiduciary's investigation or evaluation ofpotential contamination of property held in the trust or estate or thefiduciary's compliance with any environmental law, specifically including anyreporting or disclosure requirement under such law.
D. Neither a fiduciary's acceptance of property nor its failure to inspectproperty shall be deemed to create any implication as to whether or not thereis or may be any liability under any environmental law with respect to suchproperty.
E. Nothing in this section shall affect or modify any defense to individualliability under any environmental law available to any fiduciary under anyother provision of state or federal law including the common law.
"Fiduciary" includes guardians, committees, conservators, trustees,executors, administrators and administrators with the will annexed, curatorsof decedent's wills, and attorneys-in-fact or agents acting for principalsunder written powers of attorney; and the singular term includes anycombination of individuals, corporations, and other entities serving in thosecapacities.
"Individual capacity" means the nonfiduciary capacity of any individual,corporation, or other entity serving as a fiduciary.
"Environmental law" means any federal, state, or local law, rule,regulation, or ordinance relating to protection of the environment or humanhealth.
B. As to any property held in trust or in an estate, a fiduciary shall not beconsidered in its individual capacity to be (i) the "owner" or "operator"of that property as defined under any applicable environmental law or (ii) aparty otherwise liable under any environmental law unless the fiduciary'sacts or omissions outside the scope of its fiduciary duties constituteconduct that independently would give rise to individual liability.
C. A fiduciary shall not be liable in its individual capacity to anybeneficiary or other party for any decrease in value of assets in trust or inan estate by reason of the fiduciary's investigation or evaluation ofpotential contamination of property held in the trust or estate or thefiduciary's compliance with any environmental law, specifically including anyreporting or disclosure requirement under such law.
D. Neither a fiduciary's acceptance of property nor its failure to inspectproperty shall be deemed to create any implication as to whether or not thereis or may be any liability under any environmental law with respect to suchproperty.
E. Nothing in this section shall affect or modify any defense to individualliability under any environmental law available to any fiduciary under anyother provision of state or federal law including the common law.
"Fiduciary" includes guardians, committees, conservators, trustees,executors, administrators and administrators with the will annexed, curatorsof decedent's wills, and attorneys-in-fact or agents acting for principalsunder written powers of attorney; and the singular term includes anycombination of individuals, corporations, and other entities serving in thosecapacities.
"Individual capacity" means the nonfiduciary capacity of any individual,corporation, or other entity serving as a fiduciary.
"Environmental law" means any federal, state, or local law, rule,regulation, or ordinance relating to protection of the environment or humanhealth.
B. As to any property held in trust or in an estate, a fiduciary shall not beconsidered in its individual capacity to be (i) the "owner" or "operator"of that property as defined under any applicable environmental law or (ii) aparty otherwise liable under any environmental law unless the fiduciary'sacts or omissions outside the scope of its fiduciary duties constituteconduct that independently would give rise to individual liability.
C. A fiduciary shall not be liable in its individual capacity to anybeneficiary or other party for any decrease in value of assets in trust or inan estate by reason of the fiduciary's investigation or evaluation ofpotential contamination of property held in the trust or estate or thefiduciary's compliance with any environmental law, specifically including anyreporting or disclosure requirement under such law.
D. Neither a fiduciary's acceptance of property nor its failure to inspectproperty shall be deemed to create any implication as to whether or not thereis or may be any liability under any environmental law with respect to suchproperty.
E. Nothing in this section shall affect or modify any defense to individualliability under any environmental law available to any fiduciary under anyother provision of state or federal law including the common law.
