Compliance with prudent investor rule
Sec. 1. (a) Except as otherwise provided in subsection (b), a
trustee who invests and manages trust assets owes a duty to the
beneficiaries of the trust to comply with the prudent investor rule set
forth in this chapter.
(b) The prudent investor rule, a default rule, may be expanded,
restricted, eliminated, or otherwise altered by the provisions of a
trust. A trustee is not liable to a beneficiary to the extent that the
trustee acted in reasonable reliance on the provision of the trust.
As added by P.L.137-1999, SEC.3.
Last modified: May 27, 2006