Nebraska Statutes 30-3869. (UTC 804) Prudent administration
Current as of: 2023 | Check for updates
|
Other versions
(UTC 804) A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution.
Source
Terms Used In Nebraska Statutes 30-3869
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
- Trustee: A person or institution holding and administering property in trust.