§ 1.742

Liability for breach of fiduciary duty. (a) Any person who is a fiduciary with respect to a Fund who breaches any of the responsibilities, obligations, or duties imposed upon fiduciaries by this chapter shall be personally liable to make good to such Fund any losses to the Fund resulting from each such breach and to restore to such Fund any profits of such fiduciary which have been made through the use of assets of the Fund by the fiduciary and shall be subject to such other equitable or remedial relief as the court may deem appropriate, including removal of such fiduciary. (b) No fiduciary shall be liable with respect to a breach of fiduciary duty under this chapter if such breach was committed before he became a fiduciary or after he ceased to be a fiduciary. (Nov. 17, 1979, 93 Stat. 866, Pub. L. 96-122, § 182.) Prior Codifications 1981 Ed., § 1-742. 1973 Ed., § 1-1842. Section References This section is referenced in § 1-747 and § 1-911.01. Cross References Police Officers, Fire Fighters, and Teachers Retirement Benefit Replacement Plan, civil enforcement, persons eligible to bring action, see § 1-911.01.