§560:7-307 Limitations on proceedings against trustees after final account. Unless previously barred by adjudication, consent or limitation, any claim against a trustee for breach of trust is barred as to any beneficiary who has received a final account or other statement fully disclosing the matter and showing termination of the trust relationship between the trustee and the beneficiary unless a proceeding to assert the claim is commenced within two years after receipt of the final account or statement. In any event and notwithstanding lack of full disclosure a trustee who has issued a final account or statement received by the beneficiary and has informed the beneficiary of the location and availability of records for the beneficiary's examination is protected after three years. A beneficiary is deemed to have received a final account or statement if accorded notice pursuant to section 560:1-401. [L 1976, c 200, pt of §1; gen ch 1985]
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