Code · Hawaii · Hawaii Revised Statutes

PART IX.

102 words·~1 min read·/hi/part-ix-7

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

PART IX. UNIFORM PRUDENT INVESTOR ACT

[ §554D-901] Prudent investor rule.

(a)Except as otherwise 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 set forth in this part.

(b)The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the provisions of a trust. A trustee shall not be liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust. [L 2021, c 32, pt of §2]