Fla. Stat. § 736.1408 – Florida Statutes
Text of Fla. Stat. § 736.1408
Duty and liability of trust director.—
(1) Subject to subsection (2), with respect to a power of direction or further power under s. 736.1406(3)(a), relating to additional power granted to a trust director in furtherance of an express power of direction:
(a) A trust director has the same fiduciary duty and liability in the exercise or nonexercise of the power:
1. If the power is held 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 a like position and under similar circumstances.
(b) The terms of the trust may vary the trust director’s duty or liability to the same extent the terms of the trust may 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 this part to provide health care in the ordinary course of the trust director’s business or practice of a profession, to the extent the trust director acts in that capacity the trust director has no duty or liability under this part.
(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.
History of Fla. Stat. § 736.1408
Fla. Stat. § 736.1408 became law on July 1, 2021 as part of the Florida Uniform Directed Trust Act. It has not been amended or revised since that date.
Cases Citing Fla. Stat. § 736.1408
Currently, no cases cite or reference Fla. Stat. § 736.1408.