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Code · Massachusetts · Part II — REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS · Title II — PROCEEDINGS IN CRIMINAL CASES · Chapter 203C

Section 2: Trustees managing trust assets; duty to comply with prudent investor rule

83 words·~1 min read·/ma/part-ii/title-ii/chapter-203c/2

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Section 2.
(a)Except as provided in subsection (b), a trustee who invests and manages trust assets shall owe a duty to the beneficiaries of a trust to comply with the prudent investor rule set forth in this chapter.
(b)The prudent investor 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.
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