Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust, and with the requirements of this chapter.
Cal. Prob. Code § 16049
Uniform Prudent Investor Act
Known as the Uniform Prudent Investor Act
The act spans §§ 16045–16054 (10 sections).
Added by Stats. 1995, Ch. 63, Sec. 6
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.