Authorization of investments or strategies
Sec. 10. The following terms or comparable language in the
provisions of a trust, unless otherwise limited or modified, authorizes
any investment or strategy permitted under this chapter:
(1) "Investments permissible by law for investment of trust
funds".
(2) "Legal investments".
(3) "Authorized investments".
(4) "Using the judgment and care under the circumstances then
prevailing that persons of prudence, discretion, and intelligence
exercise in the management of their own affairs, not in regard
to speculation but in regard to the permanent disposition of their
funds, considering the probable income as well as the probable
safety of their capital".
(5) "Prudent man rule".
(6) "Prudent trustee rule".
(7) "Prudent person rule".
(8) "Prudent investor rule".
As added by P.L.137-1999, SEC.3.
Last modified: May 27, 2006