New Hampshire Revised Statutes 564-B:9-901 – Prudent Investor Rule
Current as of: 2023 | Check for updates
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(a) Except as otherwise provided in subsection (b), 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 may be expanded, restricted, eliminated, or otherwise altered by the terms of the trust except as provided in N.H. Rev. Stat. § 564-B:1-105(b)(2) and (3). A trustee is not liable to a beneficiary to the extent that the trustee acted in good faith and reasonable reliance on (1) the express terms of the trust, (2) a court order, (3) N.H. Rev. Stat. § 564-B:9-903, or (4) N.H. Rev. Stat. § 564-B:9-902(c)(10).
(b) The prudent investor rule may be expanded, restricted, eliminated, or otherwise altered by the terms of the trust except as provided in N.H. Rev. Stat. § 564-B:1-105(b)(2) and (3). A trustee is not liable to a beneficiary to the extent that the trustee acted in good faith and reasonable reliance on (1) the express terms of the trust, (2) a court order, (3) N.H. Rev. Stat. § 564-B:9-903, or (4) N.H. Rev. Stat. § 564-B:9-902(c)(10).
Terms Used In New Hampshire Revised Statutes 564-B:9-901
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Trustee: A person or institution holding and administering property in trust.