Title 18Fiduciaries

Title 18Fiduciaries

Chapter 15Rhode Island Uniform Prudent Investor Act

R.I. Gen. Laws § 18-15-1

§ 18-15-1. Prudent 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 this chapter.

(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.

History of Section.P.L. 1996, ch. 276, § 1.