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12 chapters · 320 sections in this title.
Ala. Code § 19-3B-818 Life Insurance Policies Held by Trustee
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A trustee may retain any life insurance policy contributed to a trust by a settlor, or purchased by the trustee upon the request of the settlor, as an asset of the trust without regard to any lack of diversification caused thereby and without regard to the terms and conditions of…
Ala. Code § 19-3B-901 Prudent Investor Rule
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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 article. (b) The prudent investor rule, a default rule, may be expanded, res…
Ala. Code § 19-3B-902 Standard of Care; Portfolio Strategy; Risk and Return Objectives
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(a) A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. (b) A …
Ala. Code § 19-3B-903 Diversification
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(a) A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying. (b) In the absence of an express provision to the contrary in the terms of…