North Carolina General Statutes 36C-10-1008. Exculpation of trustee
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Terms Used In North Carolina General Statutes 36C-10-1008
- Trustee: A person or institution holding and administering property in trust.
A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that it relieves the trustee of liability for breach of trust committed in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries. (2005-192, s. 2.)