55-550.07 - Event affecting administration or distribution. - Virginia Statutes

§ 55-550.07. Event affecting administration or distribution.

If the happening of an event, including marriage, divorce, performance ofeducational requirements, or death, affects the administration ordistribution of a trust, a trustee who has exercised reasonable care toascertain the happening of the event is not liable for a loss resulting fromthe trustee's lack of knowledge.

(2005, c. 935.)