Illinois § 901 Prudent investor rule

Illinois Statutes

§ 901 — Prudent investor rule

Illinois·Topic RIGHTS AND REMEDIES·Ch. 760 TRUSTS AND FIDUCIARIES·Act 760 ILCS 3/ Illinois Trust Code.·Art. Article 9 - Illinois Prudent Investor Law; Life Insurance; Affiliated Investments

(a)Except as otherwise provided in subsection (b), a trustee administering a trust has a duty to invest and manage the trust assets to comply with the prudent investor rule set forth in this Article.

(b)The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by express terms of the trust. A trustee is not liable to a beneficiary for the trustee's reasonable and good faith reliance on those express provisions.

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(a) Except as otherwise provided in subsection (b), a trustee administering a trust has a duty to invest and manage the trust assets to comply with the prudent investor rule set forth in this Article. (b) The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by express terms of the trust. A trustee is not liable to a beneficiary for the trustee's reasonable and good faith reliance on those express provisions.

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