§ 48.90.090. Standard of care in fund management -- Fiduciary
In managing the assets of the contributing trust fund, the association shall exercise the reasonable judgment and care that ordinary persons of prudence, intelligence, and discretion exercise in the sound management of their affairs, not in regard to speculation but in regard to preservation of their funds with maximum return, given the information reasonably available. The association may delegate this duty to a responsible fiduciary. If the fiduciary has special skills or represents that it has special skills, then the fiduciary is under a duty to use those skills in the management of the fund's assets.
[1986 c 142 § 9.]
Sections: Previous 48.90.020 48.90.030 48.90.040 48.90.050 48.90.060 48.90.070 48.90.080 48.90.090 48.90.100 48.90.110 48.90.120 48.90.130 48.90.140 48.90.150 48.90.160 NextLast modified: April 7, 2009