Statute · California Probate Code
Cal. Prob. Code § 16046 — Uniform Prudent Investor Act
Cal. Prob. Code § 16046
- Type
- Statute
- Source
- California Probate Code
- Jurisdiction
- California
- Date
- 1996-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) Except as provided in subdivision (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.
Citator
Cal. Prob. Code § 16046 — Uniform Prudent Investor Act is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Except as provided in subdivision (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.
(b) The settlor may expand or restrict the prudent investor rule by express provisions in the trust instrument. A trustee is not liable to a beneficiary for the trustee’s good faith reliance on these express provisions.