I.   Introductory Provisions

Accountability is one of the eight standard characteristics required of a Trustee being answerable and liable to faithfully render an account for all acts and transactions.

Under the character of Accountability, a Fiduciary is forbidden to act in any following manner:

(i) To fail to create, keep, maintain and render accurate books of accounts and registers for all assets, property, title, documents, correspondence, transactions, journals, ledger and balances ; or

(ii) To fail to ensure any fund associated with a Trust or Estate is solvent and capable of settlement of all obligations; or

(iii) To fail to ensure the books and accounts of the Trust or Estate balance; or

(iv) To fail to provide to Beneficiaries and any Trustor a true and accurate Accounting at least annually; or

(v) To deliberately or accidentally withhold information from any Trustor or Beneficiary; or

(vi) To seek or claim immunity from prosecution or culpability for any false or misleading or dishonest, or incompetent practices.

A Trustee that willfully and deliberately engages in a manner forbidden by the characteristic of Accountability is guilty of a major breach of trust.

A Trustee cannot hold such office in the absence of Accountability or proof of engaging in a manner forbidden by the characteristic of Accountability.