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New Jersey Statutes, Title: 3B, ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS
Chapter 31: Uniform Trust Code
Section: 3B:31-73: Damages in absence of breach.
3B:31-73. Damages in Absence of Breach.
a. A trustee is accountable to an affected beneficiary for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust, except where the interest in the transaction involved is fully disclosed to the beneficiary and consent is freely given.
b. Absent a breach of trust, a trustee is not liable to a beneficiary for a loss or depreciation in the value of trust property or for not having made a profit.
L.2015, c.276, s.1.
This section added to the Rutgers Database: 2016-02-15 11:39:07.
Older versions of 3b:31-73 (if available):
Court decisions that cite this statute: