2015 Code of Alabama
Title 19 - FIDUCIARIES AND TRUSTS.
Chapter 3B - ALABAMA UNIFORM TRUST CODE.
Section 19-3B-818 - Life insurance policies held by trustee.
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 the life insurance policy. The trustee shall not be liable for lack of diversification to any beneficiary of a trust for the trustee's retention of the life insurance policy.
(Act 2006-216, p. 314, §1.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
