D.C. Code § 29-1205.05

Current through codified legislation effective October 30, 2024

Section 29-1205.05 - Standards of conduct for trustees

(a) Subject to § 29-1204.03, in exercising the powers of trusteeship, a trustee shall act in good faith and in a manner the trustee reasonably believes to be in the best interests of the statutory trust.

(b) A trustee shall discharge its duties with the care that a person in a similar position would reasonably believe appropriate under similar circumstances.

D.C. Code § 29-1205.05

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.

Uniform Law: This section is based on § ,505 of the Uniform Statutory Trust Entity Act.