7780 - Recordkeeping and identification of trust property - UTC 810. - Pennsylvania Statutes

§ 7780. Recordkeeping and identification of trust property - UTC 810. (a) Records.--A trustee shall keep adequate records of the administration of the trust. (b) Commingling trust property prohibited.--A trustee shall keep trust property separate from the trustee's own property. (c) Designating trust property.--Except as otherwise provided in subsection (d) and section 3321 (relating to nominee registration; corporate fiduciary as agent; deposit of securities in a clearing corporation; book-entry securities), a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary. (d) Investing property of separate trusts.--If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of two or more separate trusts.