TITLE 18
Fiduciaries

CHAPTER 18-15
Rhode Island Uniform Prudent Investor Act

SECTION 18-15-1


§ 18-15-1 Prudent investor rule.

(a) Except as otherwise 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 set forth in this chapter.

(b) The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.

History of Section.
(P.L. 1996, ch. 276, § 1.)