58a-1005. Limitation of action against trustee. - Kansas Statutes

58a-1005

Chapter 58a.--KANSAS UNIFORM TRUST CODE Article 10.--LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEE

      58a-1005.   Limitation of action againsttrustee.(a) Abeneficiary may not commence a proceeding against a trustee for breach of trustmore than one year after the datethe beneficiary or a representative of the beneficiary wassent a report that adequately disclosed the existence of a potential claim forbreach of trust andinformed the beneficiary of the time allowed for commencing a proceeding.

      (b)   A report adequately discloses the existence of a potential claim forbreach of trustif it provides sufficient information so that the beneficiary or representativeknows of the potentialclaim or should have inquired into its existence.

      (c)   If subsection (a) does not apply, a judicial proceeding by a beneficiaryagainst atrustee for breach of trust must be commenced within two years after the firstto occur of:

      (1)   The removal, resignation, or death of the trustee;

      (2)   the termination of the beneficiary's interest in the trust; or

      (3)   the termination of the trust.      

      History:   L. 2002, ch. 133, § 80; Jan. 1, 2003.