55-2-12. Liability and duties of successor trustee for agreements, contracts or actions of predecessor fiduciary.
Unless otherwise provided in the trust agreement, a successor trustee:
(1)Is not individually liable for actions or inactions of a predecessor fiduciary, including agreements, contracts accountings, records, distributions, investments, modifications, reformations, or other acts entered into by its predecessor fiduciary; and
(2)Does not have a duty to:
(a)Confirm or validate such predecessor fiduciary's actions or inactions;
(b)Confirm the validity of the trust agreement; or
(c)Prosecute or seek redress for any action or inaction by the predecessor fiduciary.
Source: SL 1991, ch 229, §2; SL 2021, ch 207, § 10.