Article 59 - Limitation on Personal liability of Trustee
(1) Except as otherwise provided in the contract, a
Trustee is not personally liable on a contract properly entered into in the Trustee's fiduciary capacity in the course of administering the Trust if the Trustee in the contract disclosed the fiduciary capacity.
Trustee is personally liable for torts committed in the course of administering a Trust, or for obligations arising from ownership or control of the Trust Property only if the Trustee is personally at fault.
(3) A claim based on a contract entered into by a
Trustee in the Trustee's fiduciary capacity or an obligation arising from ownership or control of the Trust Property, or on a tort committed in the course of administering a Trust, may be asserted in a judicial proceeding against the Trustee in the Trustee'sfiduciary capacity, whether or not the Trustee is personally liable for the claim.
|Amended (as from 24th December 2017).|