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Official Code of Georgia Annotated

Title 53. WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES · Chapter 12. TRUSTS · Article 14. TRUSTEE LIABILITY

53-12-302. Damages for breach of trust; interest.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (a)

    A trustee who commits a breach of trust shall be personally chargeable with any damages resulting from such breach of trust, including, but not limited to:#

    1. (1)

      Any loss or depreciation in value of the trust property as a result of such breach of trust, with interest;#

    2. (2)

      Any profit made by the trustee through such breach of trust, with interest;#

    3. (3)

      Any amount that would reasonably have accrued to the trust or beneficiary if there had been no breach of trust, with interest; and#

    4. (4)

      In the discretion of the court, expenses of litigation, including reasonable attorney’s fees incurred in bringing an action on such breach or threat to commit such breach.#

  2. (b)

    If the trustee is liable for interest, then the amount of the liability for interest shall be the greater of:#

    1. (1)

      The amount of interest that accrues at the legal rate on judgments; or#

    2. (2)

      The amount of interest actually received.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 53-12-302, enacted by Ga. L. 2010, p. 579, § 1/SB 131.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t52-t53-(v40)-2021-pdf.pdf, Volume V40, 2021 edition, pages 913 to 914; merge action: carried; file SHA-256 062775612dfc.