this is an outdated text: switch to the updated & improved dc code website
home, about

The DC Code: § 19-1309.01 Prudent investor rule.

Index19 Descent, Distribution, and Trusts. (Refs & Annos)
a
Except as provided in subsection (b) of this section, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule as set forth in sections 19-1309.02 through 19-1309.09.
b
The prudent investor rule is a default rule that may be expanded, restricted, eliminated, or otherwise altered by provisions of the trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on provisions of the trust.

Historical and Statutory

Prior Codifications 2001 Ed., § 28-4701. 1981 Ed., § 28-4701. Legislative History of Laws For Law 15-104, see notes following § 19-1301.01. Uniform Law This section is based upon § 1 of the Uniform Prudent Investor Act. See 7B Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW. DC CODE § 19-1309.01 Current through December 11, 2012

Credits

(Mar. 10, 2004, D.C. Law 15-104, § 2(b), 51 DCR 208.)