Michigan Compiled Laws § 700.7902 Breach Of Trust; Liability; Damages.

700.7902 Breach of trust; liability; damages.

Sec. 7902.

A trustee who commits a breach of trust is liable to the trust beneficiaries affected for whichever of the following is larger:

(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.

(b) The profit the trustee made by reason of the breach.

History: Add. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name: EPIC

Section: 700.7901  700.7902  700.7903  700.7904  700.7905  700.7906  700.7907  700.7908  700.7909  700.7910  700.7911  700.7912  700.7913    Next

Last modified: October 10, 2016