75-7-1002. Damages for breach of trust.
(1) A trustee who commits a breach of trust is liable to the beneficiaries affected for the
greater of:
(a) the amount required to restore the value of the trust property and trust distributions to
what they would have been had the breach not occurred; or
(b) the profit the trustee made by reason of the breach.
(2) Except as otherwise provided in this Subsection (2), if more than one trustee is liable
to the beneficiaries for a breach of trust, a trustee is entitled to contribution from the other trustee
or trustees. A trustee is not entitled to contribution if the trustee was substantially more at fault
than another trustee or if the trustee committed the breach of trust in bad faith or with reckless
indifference to the purposes of the trust or the interests of the beneficiaries. A trustee who
received a benefit from the breach of trust is not entitled to contribution from another trustee to
the extent of the benefit received.
Enacted by Chapter 89, 2004 General Session
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Last revised: Friday, December 12, 2008