Section 18-15-9. – Delegation of investment and management functions.
§ 18-15-9. Delegation of investment and management functions. (a) A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in: (1) Selecting an agent; (2) Establishing the scope and terms of the delegation, consistent with […]
Section 18-15-10. – Language invoking standard of chapter.
§ 18-15-10. Language invoking standard of chapter. The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorize any investment or strategy permitted under this chapter: “investments permissible by law for investment of trust funds,” “legal investments,” “authorized investments,” “using the judgment and care under the circumstances then […]
Section 18-15-11. – Application to existing trusts.
§ 18-15-11. Application to existing trusts. This chapter applies to trusts existing on and created after August 6, 1996. As applied to trusts existing on its effective date, this chapter governs only decisions or actions occurring after that date. History of Section.P.L. 1996, ch. 276, § 1.