§264.6.  Cofiduciary liability

A.  Any fiduciary who participates in a breach committed by a cofiduciary, or who tries to conceal a cofiduciary's breach, shall be held liable jointly for breach of fiduciary duty.  Cofiduciary liability also results from a fiduciary's failure to use reasonable care to prevent a cofiduciary from committing a breach.  

B.  Any fiduciary who has knowledge of a cofiduciary's breach has a duty to remedy the breach.  

Acts 1992, No. 1046, §1, eff. July 1, 1993.