75-7-901 - Prudent investor rule. - Utah Statutes

75-7-901. Prudent investor rule.
(1) Except as otherwise provided in Subsection (2), a trustee who invests and managestrust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor ruleset forth in this chapter. If a trustee is named on the basis of a trustee's representations of specialskills or expertise, the trustee has a duty to use those special skills or expertise.
(2) The prudent investor rule is a default rule and may be expanded, restricted,eliminated, or otherwise altered by the provisions of a trust. A trustee is not liable to abeneficiary to the extent that the trustee acted in reasonable reliance on the provisions of thetrust.

Enacted by Chapter 89, 2004 General Session