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 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 part.
Haw. Rev. Stat. § 554D-904
Duties at inception of trusteeship
Known as the Uniform Trust Code
The act spans §§ 554–554 (99 sections).
L 2021, c 32, pt of §2
Official source: Hawaii State Legislature. Reproduced from public-domain Hawaii statutes; confirm against the official source for the current text. Not legal advice.