Yes. CERCLA also provides a “safe harbor” and states that a fiduciary shall not be liable in his personal capacity for:
- Undertaking or directing another person to undertake a response action;
- Undertaking or directing another person to undertake any other lawful means of addressing a hazardous substance in connection with the vessel or facility;
- Terminating the fiduciary relationship;
- Including in the terms of the fiduciary agreement a covenant, warranty, or other term or condition that relates to compliance with an environmental law, or monitoring, modifying or enforcing the term or condition;
- Monitoring or undertaking one or more inspections of the vessel or facility;
- Providing financial or other advice or counseling to other parties to the fiduciary relationship, including the settlor or beneficiary;
- Restructuring, renegotiating, or otherwise altering the terms and conditions of the fiduciary relationship;
- Administering, as a fiduciary, a vessel or facility that was contaminated before the fiduciary relationship began; or
- Declining to take any of the actions described in subparagraphs above.
However, the fiduciary liability exemption does not apply to a person that: (1) is acting as a fiduciary with respect to a trust that is actively carrying on a trade or business for profit, unless the trust was created because of the incapacity of a natural person; or (2) acquires ownership or control of a vessel or facility in order to avoid liability.
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