Montana § 72-38-903 Diversification -- Duty Of Trustee -- Exception

Montana Statutes

§ 72-38-903 — Diversification -- Duty Of Trustee -- Exception

Montana § 72-38-903

Title 72ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS

Ch. 38MONTANA UNIFORM TRUST CODE

Part 9Uniform Prudent Investor Act

This text of Montana § 72-38-903 (Diversification -- Duty Of Trustee -- Exception) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 72-38-903 (2026).

Text

72-38-903 . Diversification -- duty of trustee -- exception.

(1)Subject to subsection (2), in making and implementing investment decisions, the trustee has a duty to diversify the investments of the trust unless, under the circumstances, it is not prudent to do so.

(2)If trust assets include farm or ranch property, a closely held family business, timber interests, or interests in oil, gas, or minerals, the trustee may elect to retain those assets. A trustee's exercise of discretion to retain assets of the character described in this subsection is not a breach of the trustee's duty to diversify investments.

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72-38-903 . Diversification -- duty of trustee -- exception. (1) Subject to subsection (2), in making and implementing investment decisions, the trustee has a duty to diversify the investments of the trust unless, under the circumstances, it is not prudent to do so.
(2) If trust assets include farm or ranch property, a closely held family business, timber interests, or interests in oil, gas, or minerals, the trustee may elect to retain those assets. A trustee's exercise of discretion to retain assets of the character described in this subsection is not a breach of the trustee's duty to diversify investments.