Section 27-17A-53 Disposal of assets or investments. - Alabama Statutes

Section 27-17A-53

Disposal of assets or investments.

To the extent that any endowment care trust existing on May 1, 2002, includes investments or assets, the retention of which the trustee in the free exercise of its discretion deems not in the best interest of the trust estate, the trustee shall dispose of the investments or assets as soon as practicable without undue sacrifice to the trust estate, and in any event within two years after May 1, 2002.

(Act 2002-74, p. 221, §1.)