There is a newer version
of
this Section
2017 Montana Code Annotated
TITLE 72. ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS
CHAPTER 38. MONTANA UNIFORM TRUST CODE
Part 9. Uniform Prudent Investor Act
72-38-903. Diversification -- duty of trustee -- exception
Universal Citation: MT Code § 72-38-903 (2017)
72-38-903. Diversification -- duty of trustee -- exception. (1) Subject to subsection (2), in making and implementing investment decisions, the trustee has a duty to diversify the investments of the trust unless, under the circumstances, it is not prudent to do so.
(2) If trust assets include farm or ranch property, a closely held family business, timber interests, or interests in oil, gas, or minerals, the trustee may elect to retain those assets. A trustee's exercise of discretion to retain assets of the character described in this subsection is not a breach of the trustee's duty to diversify investments.
History: En. Sec. 114, Ch. 264, L. 2013.
Disclaimer: These codes may not be the most recent version. Montana 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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
