72-34-602. Compliance -- duty of trustee -- exception -- liability. - Montana Statutes

     72-34-602. Compliance -- duty of trustee -- exception -- liability. (1) The trustee has a duty to administer the trust solely in the interest of the beneficiaries. Except as provided in subsection (2), a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule.
     (2) The trustor may expand or restrict the prudent investor rule by express provisions in the trust instrument. A trustee is not liable to a beneficiary for the trustee's good faith reliance on these express provisions.

     History: En. Sec. 2, Ch. 484, L. 2003.