55-550.09 - Beneficiary's consent, release, or ratification.
§ 55-550.09. Beneficiary's consent, release, or ratification.
A trustee is not liable to a beneficiary for breach of trust if thebeneficiary consented to the conduct constituting the breach, released thetrustee from liability for the breach, or ratified the transactionconstituting the breach, unless:
1. The consent, release, or ratification of the beneficiary was induced byimproper conduct of the trustee; or
2. At the time of the consent, release, or ratification, the beneficiary didnot know of the beneficiary's rights or of the material facts relating to thebreach.
(2005, c. 935.)