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Depot officials say lost jobs results of decline in needs of U. Column: Chaos at the Champions Dinner: Where to sit? This document may not be reprinted without the express written permission of Texarkana Gazette, Inc. TITLE 12 Decedents’ Estates and Fiduciary Relations Fiduciary Relations CHAPTER 33. This chapter shall govern fiduciaries, as well as agents in certain instances, now or hereafter acting under governing instruments. The term “governing instrument” shall mean a will, trust agreement or declaration, court order or other instrument that creates or defines the duties and powers of a fiduciary and shall include any instrument that modifies a governing instrument or, in effect, alters the duties and powers of a fiduciary or other terms of a governing instrument. The term “wilful misconduct” shall mean intentional wrongdoing, not mere negligence, gross negligence or recklessness and “wrongdoing” means malicious conduct or conduct designed to defraud or seek an unconscionable advantage.
The term “fiduciary fund” means the trust, estate, guardianship account, or account established under a Uniform Transfers to Minors Act that is being administered by a fiduciary. Is the minor with respect to an account established under a Uniform Transfers to Minors Act . The term “wilful misconduct” means intentional wrongdoing, not mere negligence, gross negligence or recklessness and “wrongdoing” means malicious conduct or conduct designed to defraud or seek an unconscionable advantage. When investing, reinvesting, purchasing, acquiring, exchanging, retaining, selling and managing property for the benefit of another, a fiduciary shall act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use to attain the purposes of the account. Any determination of liability for investment performance shall consider the performance of the entire portfolio and such other factors as the fiduciary considered when the investment decision was made. Inquire about changes in the health or financial condition of the insured or insureds relative to any such contract. Any fiduciary acting under a governing instrument shall not be liable to anyone whose interests arise from that instrument for breach of fiduciary duty for the fiduciary’s good faith reliance on the express provisions of such instrument.