Arizona § 14-10908 Life insurance on settlor; liability of trustee

Arizona Statutes

§ 14-10908 — Life insurance on settlor; liability of trustee

Arizona § 14-10908

Title 14Arizona Revised Statutes

Ch. 11ARIZONA TRUST CODE

Art. 9Prudent Investor Rule

This text of Arizona § 14-10908 (Life insurance on settlor; liability of trustee) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 14-10908 (2026).

Text

A trustee may acquire or retain a contract of life insurance on the life of the settlor or the settlor's spouse, or both, without liability for a loss arising from the trustee's failure to:

1.Determine whether the contract is or remains a proper investment.

2.Investigate the financial strength of the life insurance company.

3.Exercise nonforfeiture provisions available under the contract.

4.Diversify the contract.

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A trustee may acquire or retain a contract of life insurance on the life of the settlor or the settlor's spouse, or both, without liability for a loss arising from the trustee's failure to:

1. Determine whether the contract is or remains a proper investment.

2. Investigate the financial strength of the life insurance company.

3. Exercise nonforfeiture provisions available under the contract.

4. Diversify the contract.