sec.43Liability of public trustee

sec.43 Liability of public trustee

This section applies if, before the trust property is divested from the public trustee under section 40 or 41 , the public trustee— is liable for any action taken by the public trustee in relation to the trust; and is entitled to be indemnified out of the trust property for the liability. On the divesting of the trust property from the public trustee under section 40 or 41 — the public trustee’s liability ends; and a person who would, apart from paragraph (a) , have had a remedy against the public trustee is taken to have the same remedy against the person in whom the trust property vests under section 40 or 41 . (sec.43-ssec.1) This section applies if, before the trust property is divested from the public trustee under section 40 or 41 , the public trustee— is liable for any action taken by the public trustee in relation to the trust; and is entitled to be indemnified out of the trust property for the liability. (sec.43-ssec.2) On the divesting of the trust property from the public trustee under section 40 or 41 — the public trustee’s liability ends; and a person who would, apart from paragraph (a) , have had a remedy against the public trustee is taken to have the same remedy against the person in whom the trust property vests under section 40 or 41 .

• (a) is liable for any action taken by the public trustee in relation to the trust; and
• (b) is entitled to be indemnified out of the trust property for the liability.
• (a) the public trustee’s liability ends; and
• (b) a person who would, apart from paragraph (a) , have had a remedy against the public trustee is taken to have the same remedy against the person in whom the trust property vests under section 40 or 41 .