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§ 14.5-804. Prudent person standard applied to administration of trust

West's Annotated Code of MarylandEstates and TrustsEffective: January 1, 2015

West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 14.5. Maryland Trust Act (Refs & Annos)
Subtitle 8. Duties and Powers of Trustee (Refs & Annos)
Effective: January 1, 2015
MD Code, Estates and Trusts, § 14.5-804
§ 14.5-804. Prudent person standard applied to administration of trust
Currentness
In general
(a) A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust.
Exercise of reasonable care, skill, and caution
(b) In satisfying the standard described in subsection (a) of this section, the trustee shall exercise reasonable care, skill, and caution.

Credits

Added by Acts 2014, c. 585, § 1, eff. Jan. 1, 2015.
MD Code, Estates and Trusts, § 14.5-804, MD EST & TRST § 14.5-804
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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