72-40-114. Duty to provide information to trust director or trustee. (1) Subject to 72-40-115, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:

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(a)the powers or duties of the trustee; and

(b)the powers or duties of the director.

(2)Subject to 72-40-115, a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related both to:

(a)the powers or duties of the director; and

(b)the powers or duties of the trustee or other director.

(3)A trustee that acts in reliance on information provided by a trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trustee engages in willful misconduct.

(4)A trust director that acts in reliance on information provided by a trustee or another trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trust director engages in willful misconduct.