41-3704. TITLE TO PROPERTY OF TRUSTS — LIABILITY OF TRUSTS AND TRUSTEES. The trustee of trusts established pursuant to this act shall hold the legal title to all property at any time belonging to the trust. They shall have control over such property as well as the control and management of the business and affairs of the trust. Liability to third persons for any act, omission or obligation of a trustee of a trust, when acting in such capacity, shall extend to the whole of the trust estate, or so much thereof as may be necessary to discharge such obligation, but no trustee shall be personally liable for such act, omission or obligation, except as provided herein. The trustee shall have such powers as to the investment of the trust estate as may be set out in the declaration of trust and in section 41-3712, Idaho Code, without regard to the type of investments to which trustees generally are restricted by the provisions of title 68, Idaho Code. In addition, the trustee shall have any powers, whether conferred upon them by the trust agreement or otherwise, to perform all acts necessary or desirable to the conduct of the business of a public liability insurer.
History:
[41-3704, added 1977, ch. 204, sec. 2, p. 558.]
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