20 Pennsylvania Consolidated Statutes Chapter 72 - Prudent Investor Rule
- Chapter Notes
- Section 7201 - Definitions
The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly...
- Section 7202 - Default Rule
(a) General rule.--Except as otherwise provided by the governing instrument, a fiduciary shall invest and manage property held in a trust in accordance with...
- Section 7203 - Prudent Investor Rule
(a) General rule.--A fiduciary shall invest and manage property held in a trust as a prudent investor would, by considering the purposes, terms and...
- Section 7204 - Diversification
(a) Requirement.--Except as provided in section 7205 (relating to retention of inception assets), a fiduciary shall reasonably diversify investments, unless the fiduciary reasonably determines...
- Section 7205 - Retention Of Inception Assets
A fiduciary, in the exercise of reasonable care, skill and caution, may retain any asset received in kind, even though the asset constitutes a...
- Section 7206 - Delegation
(a) Permissible delegation.--A fiduciary may delegate investment and management functions that a prudent investor of comparable skills might delegate under the circumstances. (b) Duties...
- Section 7207 - Retention Of Cash; Temporary Investments
(a) Uninvested cash.--A fiduciary may hold cash uninvested: (1) which the fiduciary reasonably expects to: (i) distribute to beneficiaries as income on a quarterly...
- Section 7208 - Life Insurance
A trustee may acquire or retain a contract of life insurance upon the life of the settlor or the settlor's spouse, or both, without...
- Section 7209 - Mutual Funds
Notwithstanding that a bank or trust company or an affiliate provides services to the investment company or investment trust, including that of an investment...
- Section 7210 - Common Trust Fund And Mortgage Investment Fund
Any corporate fiduciary and its cofiduciary, if any, may invest in: (1) A common trust fund or collective trust fund containing only investments authorized...
- Section 7211 - Further Investment Authority
Unless a contrary intent is clearly expressed in the instrument, the authority to invest in specified types of investments includes authorization to invest in...
- Section 7212 - Degree Of Care
A fiduciary shall exercise reasonable care, skill and caution in making and implementing investment and management decisions. A fiduciary who represents that he has...
- Section 7213 - Judgment Of Fiduciary's Decisions
The rules of this chapter are standards of conduct and not of outcome or performance. Compliance with the rules of this chapter shall be...
- Section 7214 - Language Invoking Chapter
The following terms or words or words of similar import in the provisions of a trust, unless otherwise limited or modified, shall authorize any...
Last modified: October 8, 2016