Substituted property; equivalent value; fiduciary duty.

§ 3316. Substituted property; equivalent value; fiduciary duty. Except as otherwise expressly provided by the terms of a governing instrument, if a trustor has a power to substitute property of equivalent value, the fiduciary responsible for investment decisions has a fiduciary duty to determine that the substituted property is of equivalent value prior to allowing the substitution.77 Del. Laws, c. 330, § 5; 79 Del. Laws, c. 197, § 1;