Minnesota Statutes 501C.1007 – Event Affecting Administration or Distribution
Current as of: 2023 | Check for updates
|
Other versions
If the occurrence of an event, including marriage, divorce, performance of educational requirements, or death, affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the occurrence of the event is not liable for a loss resulting from the trustee’s lack of knowledge.
Terms Used In Minnesota Statutes 501C.1007
- Trustee: A person or institution holding and administering property in trust.