(1) An action against a trust director for breach of trust must be commenced within the same limitations period as an action against a trustee for a similar breach of trust as prescribed by section 15-5-1005.
(2) A report or accounting has the same effect on the limitations period for an action against the director that the report or accounting would have if the director were a trustee as prescribed by section 15-5-1005.
Source: L. 2019: Entire part R&RE, (SB 19-105), ch. 51, p. 172, § 1, effective August 2.