Tennessee § 35-3-122 - Liability of fiduciaries for losses.
Full text of Tennessee Tennessee Code Annotated § 35-3-122 — Liability of fiduciaries for losses., with citation guidance and answers to common questions.
§ 35-3-122. Liability of fiduciaries for losses.
Whenever an instrument under which a fiduciary is acting reserves to the settlor or vests an advisory or investment committee or in any other person or persons including one (1) or more other fiduciaries, to the exclusion of the fiduciary or to the exclusion of one (1) or more of several fiduciaries, authority to direct the making or retention of any investment, or to perform any other act in the management or administration of the fiduciary account, the excluded fiduciary or fiduciaries shall not be liable, either individually or as a fiduciary, for any loss resulting from the making or retention of any investment or other act pursuant to that direction. Acts 1987, ch. 89, § 2.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 35-3-122
What does Tennessee Code Annotated § 35-3-122 cover?
Section 35-3-122 ("Liability of fiduciaries for losses.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 35-3-122?
A common citation format is "Tennessee Code Annotated § 35-3-122" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 35-3-122 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.