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, in order 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 chapter.
Tenn. Code Ann. § 35-14-106
Duties at inception of trusteeship
Known as the Tennessee Uniform Prudent Investor Act
The act spans §§ 35–35 (14 sections).
Acts 2002, ch. 696, § 6.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.