§1216. Relief from liability and indemnification
                  1. 
                                Liability for breach of trust. 
                                Except as otherwise provided in this section, a 2nd-trust instrument may not relieve an authorized fiduciary from liability for breach of trust to a greater extent than the first-trust instrument does.
                                     
                                
                [PL 2021, c. 235, §1 (NEW).]
              
                  2. 
                                Indemnification for claim otherwise payable. 
                                A 2nd-trust instrument may provide for indemnification of an authorized fiduciary of the first trust or another person acting in a fiduciary capacity under the first trust for any liability or claim that would have been payable from the first trust if the decanting power had not been exercised.
                                     
                                
                [PL 2021, c. 235, §1 (NEW).]
              
                  3. 
                                No reduction in liability in aggregate. 
                                A 2nd-trust instrument may not reduce fiduciary liability in the aggregate.
                                     
                                
                [PL 2021, c. 235, §1 (NEW).]
              
                  4. 
                                Division and reallocation of fiduciary powers; relief from fiduciary liability. 
                                Subject to subsection 3, a 2nd-trust instrument may divide and reallocate fiduciary powers among fiduciaries, including one or more trustees, distribution advisors, investment advisors, trust protectors or other persons, and relieve a fiduciary from liability for an act or failure to act of another fiduciary as permitted by a law of this State other than this Act.
                                     
                                
                [PL 2021, c. 235, §1 (NEW).]
              
                        SECTION HISTORY
                        
            PL 2021, c. 235, §1 (NEW).