Md. Code, Est. & Trusts § 14.5-902

Current with changes from the 2024 Legislative Session
Section 14.5-902 - Extent of liability; contribution
(a) A trustee that commits a breach of trust is liable to the beneficiaries affected by the breach for the greater of:
(1) The amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or
(2) The profit the trustee made by reason of the breach.
(b)
(1) Except as otherwise provided in this subsection, if more than one trustee is liable to the beneficiaries for a breach of trust, a trustee is entitled to contribution from the other trustee or trustees that are also liable.
(2) A trustee that received a benefit from a breach of trust under this subsection is not entitled to contribution from another trustee to the extent of the benefit received.

Md. Code, ET § 14.5-902

Added by 2014 Md. Laws, Ch. 585,Sec. 1, eff. 1/1/2015.