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13 chapters · 147 sections in this title.
18-B M.R.S. § 901 Prudent investor rule
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1. Duty to comply. Except as otherwise provided in section 902, 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. 2. Altered by provisions of trust. The prudent investor…
18-B M.R.S. § 902 Standard of care; portfolio strategy; risk and return objectives
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1. Consideration of purposes, terms, distribution requirements and other circumstances. 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 t…
18-B M.R.S. § 903 Diversification
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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.
18-B M.R.S. § 904 Duties at inception of trusteeship
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Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets in order to bring the trust portfolio into compliance with the purposes, t…