§ 3316. Substituted property; equivalent value; fiduciary duty.
49 words·~1 min read·
/de/title-12/chapter-33-administrative-provisions/3316·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as otherwise expressly provided by the terms of a governing instrument, if a trustor has a power to substitute property of equivalent value, the fiduciary responsible for investment decisions has a fiduciary duty to determine that the substituted property is of equivalent value prior to allowing the substitution.