75B-2-901. Prudent investor rule.
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Effective 5/7/2025
75B-2-901. Prudent investor rule.
(a)Except as otherwise provided in Subsection
(2), a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule described in this chapter.
(b)If a trustee is named on the basis of a trustee's representations of special skills or expertise, the trustee has a duty to use those special skills or expertise.
(a)The prudent investor rule is a default rule and may be expanded, restricted, eliminated, or otherwise altered by the provisions of a trust.
(b)A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.
Renumbered and Amended by Chapter 310 , 2025 General Session