2005 Arizona Revised Statutes - Revised Statutes §14-7601 Prudent investor rule
A. Except as provided in subsection B, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule requirements of this article.
B. The prudent investor rule is a default rule, and may be expanded, restricted, eliminated or otherwise altered by the provisions of a trust.
C. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.
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