Limitation on the Trustee’s Liability. The Trustee has no duty to inquire into the propriety or prudence of any investment direction of the District or the District’s duly authorized investment manager and shall not be liable for a loss related to such investment direction. No person who is a Trustee shall be liable or responsible for the application of Benefits paid at the District’s direction. The Trustee shall not be liable for any acts or omissions in the administration of the Trust prior to the date such person became the Trustee or after the date such person ceases to be the Trustee. A successor Trustee is not obligated to review the actions or accountings of any prior Trustee.
