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 […]
Section 4-10-1002 – Damages for Breach of Trust.
4-10-1002. Damages for breach of trust. (a) A fiduciary who commits a breach of trust is liable to the beneficiaries affected for the greater of: (i) The amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or (ii) The profit […]
Section 4-10-1003 – Damages in Absence of Breach.
4-10-1003. Damages in absence of breach. (a) A fiduciary is accountable to an affected beneficiary for any profit made by the fiduciary arising from the administration of the trust, even absent a breach of trust. (b) Absent a breach of trust, a fiduciary is not liable to a beneficiary for a loss or depreciation in […]
Section 4-10-901 – Prudent Investor Rule; Definitions.
4-10-901. Prudent investor rule; definitions. (a) Except as otherwise provided in subsection (b) of this section, 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 article. (b) The prudent investor rule, a default rule, may be […]
Section 4-10-902 – Standard of Care; Portfolio Strategy; Risk and Return Objectives.
4-10-902. 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 […]
Section 4-10-903 – Diversification.
4-10-903. 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.
Section 4-10-904 – Duties at Inception of Trusteeship.
4-10-904. 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 circumstances […]
Section 4-10-905 – Loyalty.
4-10-905. Loyalty. A trustee shall invest and manage the trust assets solely in the interest of the beneficiaries.
Section 4-10-813 – Duty to Inform and Report.
4-10-813. Duty to inform and report. (a) A trustee shall keep the qualified beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests. Unless unreasonable under the circumstances, a trustee shall promptly respond to a qualified beneficiary’s request for information related […]