Section 4-10-1005 – Limitation of Action Against Fiduciary.
4-10-1005. Limitation of action against fiduciary. (a) A beneficiary may not commence a proceeding against a fiduciary for breach of trust more than two (2) years after the date the beneficiary or a representative of the beneficiary received a report that adequately disclosed the existence of a potential claim for breach of trust and informed […]
Section 4-10-1006 – Reliance on Trust Instrument.
4-10-1006. Reliance on trust instrument. A fiduciary who acts in reasonable reliance on the terms of the trust as expressed in the trust instrument is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance.
Section 4-10-1007 – Event Affecting Administration or Distribution.
4-10-1007. Event affecting administration or distribution. If the happening of an event, including marriage, divorce, performance of educational requirements or death, affects the administration or distribution of a trust, a fiduciary who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the fiduciary’s lack of […]
Section 4-10-1008 – Exculpation of Fiduciaries.
4-10-1008. Exculpation of fiduciaries. (a) A term of a trust relieving a fiduciary of liability for breach of trust is unenforceable to the extent that it: (i) Relieves the fiduciary of liability for breach of trust committed in bad faith or with reckless indifference to the purposes of the trust or the interests of the […]
Section 4-10-908 – Reviewing Compliance.
4-10-908. Reviewing compliance. Compliance with the prudent investor rule under this article is determined in light of the facts and circumstances existing at the time of a trustee’s decision or action and not by hindsight.
Section 4-10-909 – Delegation of Investment and Management Functions.
4-10-909. 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: (i) Selecting an agent; (ii) Establishing the scope and terms of the delegation, consistent with the […]
Section 4-10-910 – Language Invoking Standard of This Article.
4-10-910. Language invoking standard of this article. (a) The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under this article: (i) “Investments permissible by law for investment of trust funds”; (ii) “Legal investments”; (iii) “Authorized investments”; (iv) “Using the judgment and […]
Section 4-10-911 – Application to Public Funds of the State of Wyoming.
4-10-911. Application to public funds of the state of Wyoming. This article applies to public funds of the state of Wyoming unless a different investment standard is specifically provided for the investment of specified public funds.
Section 4-10-913 – Short Title.
4-10-913. Short title. This article may be cited as the “Wyoming Uniform Prudent Investor Act.”
Section 4-10-1001 – Remedies for Breach of Trust.
4-10-1001. Remedies for breach of trust. (a) A violation by a fiduciary of a duty the fiduciary owes to a beneficiary is a breach of trust. (b) To remedy a breach of trust that has occurred or may occur, the court may: (i) Compel the fiduciary to perform the fiduciary’s duties; (ii) Enjoin the fiduciary […]