16046
Effective Jan 1, 1996Added by Stats. 1995, Ch. 63, Sec. 6. Effective January 1, 1996.
- (a) Except as provided in subdivision (b), a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule.
- (b) The settlor may expand or restrict the prudent investor rule by express provisions in the trust instrument. A trustee is not liable to a beneficiary for the trustee’s good faith reliance on these express provisions.