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§ 7780. Recordkeeping and identification of trust property - UTC 810

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 20 Pa.C.S.A. Decedents, Estates and FiduciariesEffective: November 6, 2006

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 20 Pa.C.S.A. Decedents, Estates and Fiduciaries (Refs & Annos)
Chapter 77. Trusts (Refs & Annos)
Subchapter H. Duties and Powers of Trustee
Effective: November 6, 2006
20 Pa.C.S.A. § 7780
§ 7780. Recordkeeping and identification of trust property - UTC 810
Currentness
(a) Records.--A trustee shall keep adequate records of the administration of the trust.
(b) Commingling trust property prohibited.--A trustee shall keep trust property separate from the trustee's own property.
(c) Designating trust property.--Except as otherwise provided in subsection (d) and section 3321 (relating to nominee registration; corporate fiduciary as agent; deposit of securities in a clearing corporation; book-entry securities), a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary.
(d) Investing property of separate trusts.--If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of two or more separate trusts.

Credits

2006, July 7, P.L. 625, No. 98, § 9, effective in 120 days [Nov. 6, 2006].
20 Pa.C.S.A. § 7780, PA ST 20 Pa.C.S.A. § 7780
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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