Section 18-16-3. – Real estate transactions.
§ 18-16-3. Real estate transactions. (a) In a statutory short form power of attorney, the language conferring general authority with respect to real estate transactions shall be construed to mean that the principal authorizes the agent: (1) To accept as a gift, or as security for a loan, to reject, to demand, to buy, to […]
Section 18-16-4. – Chattel and goods transactions.
§ 18-16-4. Chattel and goods transactions. (a) In a statutory short form power of attorney, the language conferring general authority with respect to chattel and goods transactions shall be construed to mean that the principal authorizes the agent: (1) To accept as a gift, or as security for a loan, to reject, to demand, to […]
Section 18-16-5. – Bond, share and commodity transactions.
§ 18-16-5. Bond, share and commodity transactions. (a) In a statutory short form power of attorney, the language conferring general authority with respect to bond, share and commodity transactions shall be construed to mean that the principal authorizes the agent: (1) To accept as a gift, or as security for a loan, to reject, to […]
Section 18-16-6. – Banking transactions.
§ 18-16-6. Banking transactions. (a) In a statutory short form power of attorney, the language conferring general authority with respect to banking transactions shall be construed to mean that the principal authorizes the agent: (1) To continue, modify and terminate any deposit account or other banking arrangement made by or on behalf of the principal […]
Section 18-15-4. – Duties at inception of trusteeship.
§ 18-15-4. Duties at inception of trusteeship. Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other […]
Section 18-15-5. – Loyalty.
§ 18-15-5. Loyalty. A trustee shall invest and manage the trust assets solely in the interest of the beneficiaries. History of Section.P.L. 1996, ch. 276, § 1.
Section 18-15-6. – Impartiality.
§ 18-15-6. Impartiality. If a trust has two (2) or more beneficiaries, the trustee shall act impartially in investing and managing the trust assets, taking into account any differing interests of the beneficiaries. History of Section.P.L. 1996, ch. 276, § 1.
Section 18-15-7. – Investment costs.
§ 18-15-7. 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. History of Section.P.L. 1996, ch. 276, § 1.
Section 18-13-20. – Uniformity of application of construction.
§ 18-13-20. Uniformity of application of construction. This chapter shall be applied and construed to effectuate its general purpose to make the law uniform with respect to its subject among states enacting it. History of Section.P.L. 1988, ch. 623, § 1.
Section 18-15-8. – Reviewing compliance.
§ 18-15-8. 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. History of Section.P.L. 1996, ch. 276, § 1.