1. (a) A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in:

   1. (1) selecting an agent;
   2. (2) establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and
   3. (3) reviewing the agent's actions periodically in order to monitor the agent's performance and compliance with the terms of the delegation.
2. (b) In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care.
3. (c) By accepting the delegation of a trust function from the trustee of a trust that is subject to the law of Indiana, an agent submits to the jurisdiction of the courts of Indiana.

As added by P.L.137-1999, SEC.3.