Trust funds received by executors, trustees, guardians or conservators may be kept invested in the securities received by them, unless it is otherwise ordered by the Court of Probate or unless the instrument under which such trust was created directs that a change of investments shall be made, and the fiduciaries thereof shall not be liable for any loss that may occur by depreciation of such securities.
Conn. Gen. Stat. § 45a-204
(Formerly Sec. 45-89). Investments may be maintained as received
Known as the Fiduciary Powers Act
The act spans §§ 45–45 (25 sections).
(1949 Rev., S. 6894; P.A. 80-476, S. 187.) History: P.A. 80-476 substituted “fiduciaries” for “trustees”; Sec. 45-89 transferred to Sec. 45a-204 in 1991.
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.