Current through Chapter 519 of the 2024 Legislative Session and Chapter 2 of the 2024 First Extraordinary Session
Section 15-5-1001 - Remedies for breach of trust(1) A violation by a trustee of a duty the trustee owes to a beneficiary is a breach of trust.(2) To remedy a breach of trust that has occurred or may occur, the court may: (a) Compel the trustee to perform the trustee's duties;(b) Enjoin the trustee from committing a breach of trust;(c) Compel the trustee to redress a breach of trust by paying money, restoring property, being surcharged or sanctioned, or other means;(d) Order a trustee to account, provide a status or financial report, or provide an inventory;(e) Appoint a special fiduciary to take possession of the trust property and administer the trust;(f) Restrain, restrict, or suspend the trustee;(g) Remove the trustee as provided in section 15-5-706;(h) Reduce or deny compensation to the trustee or require the trustee to disgorge compensation previously paid;(i) Subject to section 15-5-1012, void an act of the trustee, impose a lien or constructive trust on trust property, or trace trust property wrongfully disposed of and recover the property or its proceeds; or(j) Order other appropriate relief.(3) If a remedy for a breach of trust is sought by a cotrustee, beneficiary, or interested person, or the court acts sua sponte, the provisions of part 5 of article 10 of this title 15 apply.Added by 2018 Ch. 169, § 1, eff. 1/1/2019.L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1183, § 1, effective 1/1/2019.