Section 11.98A.040. Remedies for breach of duty.

(1) If a statutory trust advisor breaches a fiduciary duty with respect to a power granted to the statutory trust advisor in the governing instrument, or threatens to commit such a breach, a trustee or beneficiary of the trust may file a petition under chapter 11.96A RCW for any of the following purposes that is appropriate:

(a) To compel the statutory trust advisor to perform the statutory trust advisor's duties;

(b) To enjoin the statutory trust advisor from committing a breach of fiduciary duty;

(c) To compel the statutory trust advisor to redress a breach of fiduciary duty by payment of money or otherwise;

(d) To require the trustee to assume responsibility for a power or duty given to a statutory trust advisor in the governing instrument;

(e) To remove the statutory trust advisor;

(f) To set aside acts of the statutory trust advisor;

(g) To reduce or deny compensation of the statutory trust advisor;

(h) To impose an equitable lien or a constructive trust on trust property; or

(i) To trace trust property that has been wrongfully disposed of and recover the property or its proceeds.

(2) The remedies set forth in this section against a statutory trust advisor are exclusively in equity, but nothing in this section prevents the beneficiary or trustee from seeking any other appropriate remedy provided by statute or the common law, including damages.

[ 2015 c 115 § 7.]

2015 c 115 § 7.