In investing and managing trust assets, a trustee may only incur costs that are appropriate and reasonable in relation to the assets, overall investment strategy, purposes, and other circumstances of the trust.
Cal. Prob. Code § 16050
Uniform Prudent Investor Act
Known as the Uniform Prudent Investor Act
The act spans §§ 16045–16054 (10 sections).
Applied in 1 court decision — leading case Banks v. N. Trust Corp. (2019)
Most recently applied in Banks v. N. Trust Corp. (July 2019)
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.