Section 4-10-906 – Impartiality.
4-10-906. 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.
Section 4-10-907 – Investment Costs.
4-10-907. 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.
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 4-10-901 – 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 […]