KRS 386B.12-070: Duty and liability of trust director.

(1) Subject to subsection (2) of this section, with respect to a power of direction or

further power under KRS 386B.12-050(2)(a):

(a) A trust director has the same fiduciary duty and liability in the exercise or

nonexercise of the power:

1. If the power is hel d individually, as a sole trustee in a like position and

under similar circumstances; or

2. If the power is held jointly with a trustee or another trust director, as a

cotrustee in like position and under similar circumstances; and

(b) The terms of the tru st may vary the director's duty or liability to the same

extent the terms of the trust could vary the duty or liability of a trustee in a

like position and under similar circumstances.

(2) Unless the terms of a trust provide otherwise, if a trust director is licensed, certified,

or otherwise authorized or permitted by law other than the provisions of KRS

386B.12-010 to 386B.12 -170 to provide health care in the ordinary course of the

director's business or practice of a profession, to the extent the director acts in that

capacity, the director shall have no duty or liability under KRS 386B.12 -010 to

386B.12-170.

(3) The terms of a trust may impose a duty or liability on a trust director in addition to

the duties and liabilities under this section.