Kan. Stat. § 58-5010

Current through 2024 Session Acts Chapter 111 and 2024 Special Session Acts Chapter 4
Section 58-5010 - Duty to provide information to trust director or trustee
(a) Subject to K.S.A. 2023 Supp. 58-5011, and amendments thereto, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:
(1) The powers or duties of the trustee; and
(2) the powers or duties of the director.
(b) Subject to K.S.A. 2023 Supp. 58-5011, and amendments thereto, a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related both to:
(1) The powers or duties of the director; and
(2) the powers or duties of the trustee or other director.
(c) A trustee that acts in reliance on information provided by a trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trustee engages in willful misconduct.
(d) A trust director that acts in reliance on information provided by a trustee or another trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trust director engages in willful misconduct.

K.S.A. 58-5010

Added by L. 2022, ch. 16,§ 10, eff. 7/1/2022.