Alabama Code 19-3B-804. Prudent administration
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Alabama Code 19-3B-804
- person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
- Trustee: A person or institution holding and administering property in trust.
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.