Ohio Code 5808.04 – Duty to act as prudent person
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A trustee shall administer the trust as a prudent person would and shall consider the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution.
Terms Used In Ohio Code 5808.04
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- Trustee: A person or institution holding and administering property in trust.