§ 16042. — 16042. (Added by Stats. 1997, Ch. 93, Sec. 4.)

California § 16042.

• Jurisdiction: California
• Code PROB: Probate Code - PROB
• Div. 9.: DIVISION 9. TRUST LAW
• Part 4.: PART 4. TRUST ADMINISTRATION
• Ch. 1.: CHAPTER 1. Duties of Trustees
• Art. 2.: ARTICLE 2. Trustee’s Standard of Care

Text

(a)
Notwithstanding the requirements of this article, Article 2.5 (commencing with Section 16045), and the terms of the trust, all trust funds that come within the custody of the public guardian who is appointed as trustee of the trust pursuant to Section 15660.5 may be deposited or invested in the same manner, and would be subject to the same terms and conditions, as a deposit or investment by the public administrator of funds in the estate of a decedent pursuant to Article 3 (commencing with Section 7640) of Chapter 4 of Part 1 of Division 7.
(b)
Upon the deposit or investment of trust property pursuant to subdivision (a), the public guardian shall be deemed to have met the standard of care specified in this article and Article 2.5 (commencing with Section 16045) with respect to this trust property.

Legislative History

Added by Stats. 1997, Ch. 93, Sec. 4. Effective January 1, 1998.