§ 707. Impartiality
If a trust has two or more beneficiaries, the trustee shall act impartially in investing and managing the trust assets, taking into account any differing interests of the beneficiaries.
§ 708. Investment costs
In investing and managing trust assets, a trustee may only incur costs that are appropriate and reasonable in relation to the assets, the purposes of the trust, and the skills of the trustee.
§ 709. Reviewing compliance
Compliance with the prudent investor rule is determined in light of the facts and circumstances existing at the time of a trustee’s decision or action and not by hindsight.
§ 691. Application of subchapter; construction
(a) This subchapter applies to registrations of securities in beneficiary form made before or after effective date of this subchapter, by decedents dying on or after effective date. (b) This subchapter must be liberally construed and applied to promote its underlying purposes and policy and to make uniform the laws with respect to the subject […]
§ 702. Prudent investor rule
(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 […]
§ 703. Standard of care; portfolio strategy; risk and return objectives
(a) A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. (b) A trustee’s investment and management decisions respecting individual assets must be evaluated not in […]
§ 704. Diversification
A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying.
§ 686. Effect of registration in beneficiary form
The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner’s death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all, then surviving owners without the consent of the beneficiary.
§ 687. Ownership on death of owner
On death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On proof of death of all owners and compliance with any applicable requirements of the registering entity, a security registered in beneficiary form […]
§ 688. Protection of registering entity
(a) A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary assents to the protections given to the registering entity by this subchapter. (b) By accepting a request […]