§ 14.5-908. Personal liability of trustee for contracts entered into under fiduciary capacity o...
West's Annotated Code of MarylandEstates and TrustsEffective: January 1, 2015
Effective: January 1, 2015
MD Code, Estates and Trusts, § 14.5-908
§ 14.5-908. Personal liability of trustee for contracts entered into under fiduciary capacity of trustee
(a) Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into by the trustee in the fiduciary capacity of the trustee in the course of administering the trust if the trustee in the contract disclosed the fiduciary capacity.
(b) A claim based on a contract entered into by a trustee in the fiduciary capacity of the trustee, on an obligation arising from ownership or control of trust property, or on a tort committed in the course of administering a trust, may be asserted in a judicial proceeding against the trustee in the fiduciary capacity of the trustee, regardless of whether the trustee is personally liable for the claim.
Credits
Added by Acts 2014, c. 585, § 1, eff. Jan. 1, 2015.
MD Code, Estates and Trusts, § 14.5-908, MD EST & TRST § 14.5-908
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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