§ 18-15-9. Delegation of investment and management functions.
(a) A trustee may delegate investment and management functions that a prudent trustee
of comparable skills could properly delegate under the circumstances. The trustee
shall exercise reasonable care, skill, and caution in:
(1) Selecting an agent;
(2) Establishing the scope and terms of the delegation, consistent with the purposes and
terms of the trust; and
(3) Periodically reviewing the agent's actions in order to monitor the agent's performance
and compliance
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§ 18-15-9. Delegation of investment and management functions.
(a) A trustee may delegate investment and management functions that a prudent trustee
of comparable skills could properly delegate under the circumstances. The trustee
shall exercise reasonable care, skill, and caution in:
(1) Selecting an agent;
(2) Establishing the scope and terms of the delegation, consistent with the purposes and
terms of the trust; and
(3) Periodically reviewing the agent's actions in order to monitor the agent's performance
and compliance with the terms of the delegation.
(b) In performing a delegated function, an agent owes a duty to the trust to exercise
reasonable care to comply with the terms of the delegation.
(c) A trustee who complies with the requirements of subsection (a) of this section is
not liable to the beneficiaries or to the trust for the decisions or actions of the
agent to whom the function was delegated.
(d) By accepting the delegation of a trust function from the trustee of a trust that is
subject to the law of this state, an agent submits to the jurisdiction of the courts
of this state.