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§ 7204. Diversification

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 20 Pa.C.S.A. Decedents, Estates and FiduciariesEffective: November 6, 2002

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 20 Pa.C.S.A. Decedents, Estates and Fiduciaries (Refs & Annos)
Chapter 72. Prudent Investor Rule (Refs & Annos)
Effective: November 6, 2002
20 Pa.C.S.A. § 7204
§ 7204. Diversification
(a) Requirement.--Except as provided in section 7205 (relating to retention of inception assets), a fiduciary shall reasonably diversify investments, unless the fiduciary reasonably determines that it is in the interests of the beneficiaries not to diversify, taking into account the purposes, terms and other circumstances of the trust and the requirements of this chapter.
(b) Applicability.--Subsection (a) does not apply to any of the following:
(1) A trust which became irrevocable prior to December 25, 1999. This paragraph applies even if the action of the trustee occurs after December 25, 1999.
(2) A trust created by a revocable instrument executed prior to December 25, 1999, if such instrument is not amended after December 24, 1999. This paragraph applies even if the action of the trustee occurs after December 25, 1999.

Credits

1999, June 25, P.L. 212, No. 28, § 2, effective in six months. Reenacted and amended 2002, Nov. 6, P.L. 1101, No. 133, § 2, imd. effective.
20 Pa.C.S.A. § 7204, PA ST 20 Pa.C.S.A. § 7204
Current through the end of the 2023 Regular Session. Some statute sections may be more current, see credits for details.
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