Minnesota Statutes 356A.09 – Fiduciary Breach; Remedies
Current as of: 2023 | Check for updates
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Subdivision 1.Occurrence of breach.
A fiduciary breach occurs if a fiduciary violates the general standard of fiduciary conduct as specified in section 356A.04 in carrying out the activities of a fiduciary. A fiduciary breach also occurs if a fiduciary of a covered pension plan violates the provisions of section 356A.06, subdivision 9.
Subd. 2.Remedies.
Terms Used In Minnesota Statutes 356A.09
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Fiduciary: A trustee, executor, or administrator.
- Statute: A law passed by a legislature.
Terms Used In Minnesota Statutes 356A.09
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Fiduciary: A trustee, executor, or administrator.
- Statute: A law passed by a legislature.
Remedies available for a fiduciary breach by a fiduciary are those specified by statute or available at common law.