Code of Alabama § 38-9b-7 - Trustee Liability

Section 38-9B-7

Trustee liability.

No trustee or co-trustee serving pursuant to the provisions of this chapter shall at any time be liable for any mistake of law or fact, or of both law and fact, or errors of judgment, or for any loss sustained by the AFT Trust or AFT Charitable Trust, or by any life beneficiary, or by any other person, except through actual fraud or willful misconduct on the part of such trustee or co-trustee.

(Acts 1994, No. 94-579, p. 1054, §7; Act 2013-366, p. 1313, §1.)

Section: Previous  38-9b-1  38-9b-2  38-9b-3  38-9b-4  38-9b-5  38-9b-6  38-9b-7  

Last modified: November 15, 2016