SECTION 736.0807. Delegation by trustee.

Latest version.

1(1) 2A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances, including investment functions pursuant to s. 28518.11229. The trustee shall exercise reasonable care, skill, and caution in:
40(a) 41Selecting an agent.
44(b) 45Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust.
62(c) 63Reviewing the agent’s actions periodically, in order to monitor the agent’s performance and compliance with the terms of the delegation.
83(2) 84In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation.
109(3) 110A trustee who complies with subsection (1) and, when investment functions are delegated, s. 124518.112 125is not liable to the beneficiaries or to the trust for an action of the agent to whom the function was delegated.

History.-s. 8, ch. 2006-217; s. 6, ch. 2009-117; s. 13, ch. 2013-172.

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