Montana Code 72-38-1009. Beneficiary’s consent, release, or ratification
72-38-1009. Beneficiary’s consent, release, or ratification. A trustee is not liable to a beneficiary for breach of trust if the beneficiary 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 Montana Code 72-38-1009
- 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:
(a)has a present or future beneficial interest in a trust, vested or contingent; or
(b)in a capacity other than that of trustee, holds a power of appointment over trust property. See Montana Code 72-38-103
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional, and successor trustee and a cotrustee. See Montana Code 72-38-103
(1)the consent, release, or ratification of the beneficiary was induced by improper conduct of the trustee; or
(2)at the time of the consent, release, or ratification, the beneficiary did not know of the beneficiary’s rights or of the material facts relating to the breach.