Code of Virginia § 64.2-763. Duty to administer trust and invest.
82 words·~1 min read·
/va/title-64-2/chapter-7/64-2-763A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Upon acceptance of a trusteeship, the trustee shall administer the trust and invest trust assets in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this chapter. In administering, managing and investing trust assets, the trustee shall comply with the provisions of the Uniform Prudent Investor Act (§ 64.2-780 et seq.) and the Uniform Principal and Income Act (§ 64.2-1000 et seq.).
2005, c. 935 , § 55-548.01; 2012, c. 614 .