Duty of prudent administration
Known as the Uniform Trust Code
The act spans §§ 3B:31-1 to 3B:31-9 (84 sections).
L.2015, c.276, s.1.
Duty of Prudent Administration.
A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.