(a) A trustee is chargeable for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust.

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Terms Used In Minnesota Statutes 501C.1003

  • Trustee: A person or institution holding and administering property in trust.

(b) Absent a breach of trust, a trustee is not liable for a loss or depreciation in the value of trust property or for not having made a profit.

(c) This section does not limit a trustee’s right to payments that are permitted under section 501C.0802.