2013 Maine Revised Statutes
TITLE 18-B: TRUSTS
Chapter 9: MAINE UNIFORM PRUDENT INVESTOR ACT
18-B §904. Duties at inception of trusteeship
Part 1: MAINE UNIFORM TRUST CODE HEADING: PL 2003, C. 618, PT. A, §1 (NEW); §2 (AFF) EFFECTIVE 7/1/05
904. Duties at inception of trusteeship
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, terms, distribution requirements and other circumstances of the trust and with the requirements of this chapter. [2003, c. 618, Pt. A, 1 (NEW); 2003, c. 618, Pt. A, 2 (AFF).]
SECTION HISTORY
2003, c. 618, A1 (NEW). 2003, c. 618, A2 (AFF).
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