What happens if a trustee violates their fiduciary responsibility?
Any person who is a fiduciary with respect to a retirement system or pension fund established under this code who breaches any duty imposed upon fiduciaries by this code shall be personally liable to make good to such retirement system or pension fund any losses to it resulting from each such breach. No person shall be liable with respect to a breach of fiduciary duty under this code if such breach occurred before such person became a fiduciary or after such person ceased to be a fiduciary.
Related Questions
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