Hawaii Revised Statutes 554D-1009 – Beneficiary’s consent, release, or ratification
Current as of: 2024 | Check for updates
|
Other versions
A trustee is not liable to a beneficiary for breach of trust if the beneficiary or the representative of the beneficiary, as described in part III, consented to the conduct constituting the breach, released the trustee from liability for the breach, or ratified the transaction constituting the breach, unless:
Terms Used In Hawaii Revised Statutes 554D-1009
- 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 who:
(1) Has a present or future beneficial interest in a trust, vested or contingent; or (2) In a capacity other than that of trustee, holds a power of appointment over trust property. See Hawaii Revised Statutes 554D-103 - Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional, and successor trustee, and a cotrustee. See Hawaii Revised Statutes 554D-103