55-5-14. Authorization language.
107 words·~1 min read·
/sd/title-55/chapter-55-5/55-5-14A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The following terms or comparable language in the investment powers and related provisions of a trust instrument, unless otherwise limited or modified by that instrument, authorize any investment or strategy permitted under this chapter: "investments permissible by law for investment of trust funds," "legal investment," "authorized investments," "using the judgment and care under the circumstances then prevailing that men of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to the speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital," "prudent man rule," "prudent person rule."