2006 Nebraska Revised Statutes - § 30-3883 — Prudent investor rule.
Section 30-3883Prudent investor rule.
(a) Except as otherwise provided in subsection (b) of this section, 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 sections 30-3883 to 30-3889.
(b) The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.
Source:
- Laws 1997, LB 54, § 2
R.S.1943, (1997), § 8-2202
Laws 2003, LB 130, § 83
~Revised Statutes Cumulative Supplement, 2006
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