Connecticut General Statutes (Last Updated: November 2, 2019) |
Volume 12. |
Title 45a. Probate Courts and Procedure |
Chapter 802c. Trusts |
PART VII. CONNECTICUT UNIFORM PRUDENT INVESTOR ACT |
Sec. 45a-541a. Prudent investor rule.
Latest version.
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(a) Except as provided in subsection (b) of this section, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule, as set forth in sections 45a-541 to 45a-541l, inclusive.
(b) The prudent investor rule is a default rule that may be expanded, restricted, eliminated or otherwise altered by provisions of the trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on provisions of the trust.
(P.A. 97-140, S. 2.)