Sec. 901. Prudent investor rule.
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/il/chapter-760/act-3/901A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 901. Prudent investor rule.
(a)Except as otherwise provided in subsection (b), a trustee administering a trust has a duty to invest and manage the trust assets to comply with the prudent investor rule set forth in this Article.
(b)The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by express terms of the trust. A trustee is not liable to a beneficiary for the trustee's reasonable and good faith reliance on those express provisions.