(1) Except as otherwise provided in subsection (2) of this section, 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 ORS 130.755.
(2) The prudent investor rule is a default rule that 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 provisions of the trust. [2005 c.348 §77]
Section: Previous 130.700 130.705 130.710 130.715 130.720 130.725 130.730 130.750 130.755 130.760 130.765 130.770 130.775 130.800 130.805 NextLast modified: August 7, 2008