§ 18-15-1 - Prudent investor rule. - Rhode Island Statutes

SECTION 18-15-1

   § 18-15-1  Prudent investor rule. –(a) Except as otherwise provided in subsection (b) of this section, a trusteewho invests and manages trust assets owes a duty to the beneficiaries of thetrust to comply with the prudent investor rule set forth in this chapter.

   (b) The prudent investor rule, a default rule, may beexpanded, restricted, eliminated, or otherwise altered by the provisions of atrust. A trustee is not liable to a beneficiary to the extent that the trusteeacted in reasonable reliance on the provisions of the trust.