(a) A trustee may delegate duties and powers. The trustee shall exercise the care a person in a similar position would reasonably believe appropriate under similar circumstances in:
(1) Selecting an agent;
(2) Establishing the scope and terms of the delegation; and
(3) Periodically reviewing the agent’s actions to monitor the agent’s performance and compliance with the terms of the delegation.
(b) Subject to subsection (a) of this section, a trustee may delegate duties and powers to a co-trustee.
(c) In performing a delegated function, an agent of a trustee shall owe a duty to the statutory trust to exercise reasonable care to comply with the terms of the delegation.
(d) A trustee that complies with subsection (a) of this section shall not be liable to a beneficial owner or to the statutory trust for an act or omission of the agent of the trustee to which a function was delegated.
(e) An agent of a trustee submits to the jurisdiction of the courts of the District by accepting a delegation of powers or duties from a trustee with respect to a claim related to the agency.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
Editor's NotesUniform Law: This section is based on § 511 of the Uniform Statutory Trust Entity Act.