Sentence examples for trustees liability from inspiring English sources
The only chance workers and retirees have of recovering more than a small fraction of their lost 401(k) savings is from the trustees' liability insurance, Mr. Feinberg said.
Part IV of the act covers the delegation of powers to agents, and the trustees liability for their acts.
Section 23 establishes trustees' liability for the actions of agents; a trustee is liable for negligence if he violates the general duty of care set out in Section 1, but not otherwise.
It sets a new duty of care, both objective and standard, massively extends the trustees' power of investment and limits the trustees' liability for the actions of agents, also providing for their remuneration for work done in the course of the trust.
He adds that because of trustee liability, charity investments should be risk-averse, but rental income is reasonably dependable and is subject to a transparent contract.
In practice, however, unless they have been grossly negligent, trustees should not worry too much as the government has put in place recommendations regarding academy trustee liabilities in the case of financial difficulties.
"With trusts, those that are not incorporated mean that trustees incur personal liability if something goes wrong".
This created a co-fiduciary relationship that was supposed to insulate the trustees from personal liability for making bad decisions.
Nothing in this subsection shall relieve any trustee of any liability under this part for any act of such trustee.
The report makes six key recommendations on reforming the law to clarify charity trustee and volunteer liability so that individuals are not so scared of giving time, and getting rid of regulatory duplication and repeated requests for the same information, for example by Companies House and the Charity Commission.
"We contend that the trustee has direct liability on the theory that even though they were not sitting at the loan closing table, they were involved in the securitization and profited from it," said Sarah E. Bolling, a lawyer in the Home Defense Program at the Atlanta Legal Aid Society who represents the Jordans.
