Alabama Code (Last Updated: November 28, 2014) |
Title19 FIDUCIARIES AND TRUSTS. |
Chapter3B. ALABAMA UNIFORM TRUST CODE. |
§19-3B-901. Prudent investor rule.
Latest version.
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(a) Except as otherwise provided in subsection (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 set forth in this article.
(b) The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the terms of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the terms of the trust.