Liability of Trustee. The Trustee and his successor as Trustee shall not be required to give a bond, and each Trustee shall be liable only for his own acts and then only as a result of his own gross negligence or bad faith.
Appears in 6 contracts
Sources: Trust Agreement, Trust Agreement, Land Trust Agreement
Liability of Trustee. The Trustee and his or her successor as Trustee shall not be required to give a bond, and each Trustee shall be liable only for his own acts and then only as a result of his own gross negligence or bad faith.
Appears in 2 contracts
Sources: Personal Property Trust Agreement, Land Trust Agreement
Liability of Trustee. The Trustee and his successor as Trustee trustee shall not be required to give a bond, and each Trustee trustee shall be liable only for his such trustee’s own acts and then only as a result of his such trustee’s own gross negligence or bad faith.
Appears in 2 contracts
Sources: Trust Agreement, Trust Agreement