§560:7-307 Limitations on proceedings against trustees after final account. Unless previously barred by adjudication, consent or limitation, any claim against a trustee for breach of trust is barred as to any beneficiary who has received a final account or other statement fully disclosing the matter and showing termination of the trust relationship between the trustee and the beneficiary unless a proceeding to assert the claim is commenced within two years after receipt of the final account or statement. In any event and notwithstanding lack of full disclosure a trustee who has issued a final account or statement received by the beneficiary and has informed the beneficiary of the location and availability of records for the beneficiary's examination is protected after three years. A beneficiary is deemed to have received a final account or statement if accorded notice pursuant to section 560:1-401. [L 1976, c 200, pt of §1; gen ch 1985]
Section: Previous 560-7-206 560-7-301 560-7-302 560-7-303 560-7-304 560-7-305 560-7-306 560-7-307 560-7-401 560-7-501 560-8-101 560-8-102 560-8-201 560-8-301 NextLast modified: October 27, 2016