55-548.01 - Duty to administer trust and invest. - Virginia Statutes

§ 55-548.01. Duty to administer trust and invest.

Upon acceptance of a trusteeship, the trustee shall administer the trust andinvest trust assets in good faith, in accordance with its terms and purposesand the interests of the beneficiaries, and in accordance with this chapter.In administering, managing and investing trust assets, the trustee shallcomply with the provisions of the Uniform Prudent Investor Act (§ 26-45.3 etseq.) and the Uniform Principal and Income Act (§ 55-277.1 et seq.).

(2005, c. 935.)