Kansas Statutes 58a-1003. Damages in absence of breach
Current as of: 2023 | Check for updates
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Terms Used In Kansas Statutes 58a-1003
- 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
- Property: includes personal and real property. See Kansas Statutes 77-201
- Trustee: A person or institution holding and administering property in trust.
(a) A trustee is accountable to an affected beneficiary for any profit made by the trustee, other than compensation earned, arising from the administration of the trust, even absent a breach of trust.
(b) Absent a breach of trust, a trustee is not liable to a beneficiary for a loss or depreciation in the value of trust property or for not having made a profit.