D.C. Code § 29-1205.05

Standards of conduct for trustees

Known as the Uniform Statutory Trust Entity Act

The act spans §§ 29–29 (66 sections).

July 2, 2011, D.C

(a) Subject to § 29-1204.03, in exercising the powers of trusteeship, a trustee shall act in good faith and in a manner the trustee reasonably believes to be in the best interests of the statutory trust.

(b) A trustee shall discharge its duties with the care that a person in a similar position would reasonably believe appropriate under similar circumstances.

Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.