§ 21-206. Liability of fiduciary for breach of duty

   (a) Liability. -- Subject to § 21-207 of this subtitle, a fiduciary who breaches any of the responsibilities, obligations, or duties imposed on a fiduciary by this subtitle:

   (1) is personally liable to the several systems for any losses to the several systems resulting from a breach;

   (2) shall restore to the several systems any profits of the fiduciary made through use of assets of the several systems by the fiduciary; and

   (3) is subject to any equitable or remedial relief, including removal of the fiduciary, that a court considers appropriate.

(b) Limitation on liability. -- A fiduciary is not liable with respect to a breach of fiduciary duty under this subtitle if the breach was committed:

   (1) before the fiduciary became a fiduciary; or

   (2) after the fiduciary ceased to be a fiduciary.

HISTORY: An. Code 1957, art. 73B, § 1-206; 1994, ch. 6, § 2.