Section 633A.4505. Exculpation of trustee.

Latest version.

  A provision in the terms of the trust relieving a trustee of liability for breach of trust is unenforceable to the extent that it does either of the following:
  1.  Relieves a trustee of liability for breach of trust committed intentionally, with gross negligence, in bad faith, or with reckless indifference to the interest of the beneficiary, or for any profit derived by the trustee from the breach.
  2.  Was inserted as the result of an abuse by the trustee of a fiduciary or confidential relationship to the settlor.
99 Acts, ch 125, §77, 109
C2001, §633.4505
2005 Acts, ch 38, §54
CS2005, §633A.4505

                    
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