Maine § 18-B §902 Standard of care; portfolio strategy; risk and return objectives

Maine Statutes

§ 18-B §902 — Standard of care; portfolio strategy; risk and return objectives

Maine·Title 18-B TRUSTS·Part 1 MAINE UNIFORM TRUST CODE·Ch. 9 MAINE UNIFORM PRUDENT INVESTOR ACT

1.Consideration of purposes, terms, distribution requirements and other circumstances. A trustee shall invest and manage trust assets, as a prudent investor would, by considering the purposes, terms, distribution requirements and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill and caution.

2.Overall investment strategy. A trustee's investment and management decisions respecting individual assets must be evaluated not in isolation but in the context of the trust portfolio as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the trust.

3.Relevant circumstances to consider. Among circumstances that a trustee shall consider in investing and managing trust assets are

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1.
Consideration of purposes, terms, distribution requirements and other circumstances.
A trustee shall invest and manage trust assets, as a prudent investor would, by considering the purposes, terms, distribution requirements and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill and caution.
2.
Overall investment strategy.
A trustee's investment and management decisions respecting individual assets must be evaluated not in isolation but in the context of the trust portfolio as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the trust.
3.
Relevant circumstances to consider.
Among circumstances that a trustee shall consider in investing and managing trust assets are all of the following that are relevant to the trust or its beneficiaries:
4.
Reasonable effort to verify facts.
A trustee shall make a reasonable effort to verify facts relevant to the investment and management of trust assets.
5.
Kind of property; type of investment.
A trustee may invest in any kind of property or type of investment consistent with the standards of this chapter.

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