                                 CODE OF VIRGINIA

RELIEF FROM LIABILITY AND INDEMNIFICATION (§ 64.2-779.14)

A. Except as otherwise provided in this section, a second-trust instrument may
not relieve an authorized fiduciary from liability for breach of trust to a
greater extent than the first-trust instrument.

B. A second-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.

C. A second-trust instrument may not reduce fiduciary liability in the
aggregate.

D. Subject to subsection C, a second-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 law of the Commonwealth other than this article.

HISTORY: 2017, c. 592.