14-10901. Prudent investor rule
84 words·~1 min read·
/az/title-14/14-10901A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Except as provided in subsection B, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule requirements of this article.
B. The prudent investor rule is a default rule and may be expanded, restricted, eliminated or otherwise altered by the provisions of a trust.
C. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.