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FULL PACKET_2011-12-19
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FULL PACKET_2011-12-19
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<br /> <br /> <br /> <br /> <br /> <br /> 7.2 Limitation on Amendment. No amendment shall be made, at any time, under which any <br /> part of the Trust may be diverted to purposes other than for the exclusive benefit of Participants and <br /> their Beneficiaries. <br /> <br /> 7.3 Conformity with Law. Notwithstanding anything herein to the contrary, this Trust <br /> Agreement may be amended prospectively or retroactively at any time by the Agency if deemed <br /> necessary to conform to the provisions and requirements of the Internal Revenue Code or regulations <br /> promulgated pursuant thereto in order to maintain the tax-exempt status hereof thereunder, or to <br /> conform to the provisions and requirements of any law, regulation, order or ruling affecting the <br /> character or purpose of the Plan or Trust. No such Amendment shall be effective to add or change <br /> the Trustee's powers or duties absent Trustee's written consent. <br /> <br /> ARTICLE VIII <br /> <br /> LIABILITIES <br /> <br /> 8.1 Declaration of Intent. Nothing in this Article purports to relieve a fiduciary from liability <br /> for any responsibility, obligation or duty under any applicable Statutes. However, to the full extent <br /> permitted by law, it is the intent of this Article to relieve each fiduciary from all liability for any acts <br /> or omissions of any other fiduciary or any other person and to declare the absence of liabilities of all <br /> persons referred to in this Article to the extent not imposed by law or by provisions of this Trust <br /> Agreement. Each of the following Sections, in declaring such limitations, is set forth without <br /> limiting the generality of this Section but in each case shall be subject to the provisions, limitations <br /> and policies set forth in this Section. <br /> 8.2 General Limitations of Liability. <br /> <br /> (a) No fiduciary shall be liable with respect to a breach of fiduciary duty under any <br /> applicable Statutes if such breach was committed before he or she became a fiduciary or after he or <br /> she ceased to be a fiduciary. <br /> <br /> (b) No fiduciary shall be liable for any act or omission of any other person to whom <br /> fiduciary responsibilities (other than Trustee responsibilities) are allocated by the Plan, the Trust <br /> Agreement or by a fiduciary. <br /> 8.3 Liability of the Trustee. <br /> <br /> (a) The Trustee shall have no powers, duties or responsibilities with regard to the <br /> administration of the Plan or to determine the rights or benefits of any person having or claiming an <br /> interest under the Plan or in the Trust or under this Trust Agreement or to examine or control any <br /> disposition of the Trust or part thereof which is directed by the Plan Administrator. <br /> <br /> (b) The Trustee shall have no liability for the adequacy of contributions for the <br /> purposes of the Plan or for enforcement of the payment thereof. <br /> (c) The Trustee shall have no liability for the acts or omissions of the Agency or the <br /> Plan Administrator. <br /> <br /> <br /> 15 <br /> <br /> 55C-33 <br />
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