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Are Income Fund Trustees Subject to Different Standards than Directors?


Area REITs and Income Securities


As the market for income funds has matured, an increasing number of situations are emerging in which the actions of trustees are likely to be subject to review in and by the courts.  A question that inevitably will arise in this context is whether trustees should be assessed against the strict standards applied to fiduciaries under trust law or be afforded the greater deference enjoyed by corporate directors, including the benefit of the  “business judgment rule”.

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