Sec. 13.36.225. Prudent investor rule.
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Sec. 13.36.225. Prudent investor rule.
(a)Except as otherwise provided in
(b)of this section and AS 13.36.273 , 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 out in AS 13.36.230 — 13.36.290.
(b)The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the direction of the settlor to the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.