Connecticut General Statutes 45a-499u – Designated representative
(a) The trust instrument may (1) designate one or more persons other than the settlor to represent and bind a beneficiary that is not a charity and to receive a notice, information, an accounting or a report on behalf of the beneficiary; or (2) authorize a person or persons, other than a trustee of the trust or the settlor, to designate one or more persons to represent and bind a beneficiary that is not a charity and receive any notice, information, accounting or report. The designated representative shall act in good faith on behalf of any beneficiary so represented.
Terms Used In Connecticut General Statutes 45a-499u
- another: may extend and be applied to communities, companies, corporations, public or private, limited liability companies, societies and associations. See Connecticut General Statutes 1-1
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means a person that (A) has a present or future beneficial interest in a trust, vested or contingent. See Connecticut General Statutes 45a-499c
- Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
- Designated representative: means any person designated as provided in subsection (a) of section 45a-499u, unless precluded from acting by the trust instrument or applicable law. See Connecticut General Statutes 45a-499c
- Person: means an individual, corporation, statutory or business trust, estate, trust, partnership, limited liability company, association, joint venture, court, government, governmental subdivision, agency or instrumentality, public corporation or any other legal or commercial entity. See Connecticut General Statutes 45a-499c
- Settlor: means a person, including a testator, that creates or contributes property to a trust. See Connecticut General Statutes 45a-499c
- Trust instrument: means any instrument executed by the settlor, including a will establishing or creating a testamentary trust, that contains terms of the trust, including any amendments thereto. See Connecticut General Statutes 45a-499c
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional and successor trustee and a cotrustee. See Connecticut General Statutes 45a-499c
(b) Except as otherwise provided in sections 45a-499a to 45a-500s, inclusive, a designated representative may not represent and bind a beneficiary while the person is serving as trustee.
(c) Except as otherwise provided in sections 45a-499a to 45a-500s, inclusive, a designated representative may not represent and bind another beneficiary if the person designated also is a beneficiary, unless:
(1) The person was named by the settlor; or
(2) The person is the beneficiary’s spouse or a grandparent or descendant of a grandparent of the beneficiary or the beneficiary’s spouse.
(d) A designated representative is not liable to the beneficiary whose interests are represented, or to anyone claiming through that beneficiary, for any actions or omissions to act made in good faith.