Washington § 48.90.090 Standard of care in fund management—Fiduciary.

Washington Statutes

§ 48.90.090 — Standard of care in fund management—Fiduciary.

Washington § 48.90.090

Title 48INSURANCE

Ch. 48.90CHILD DAY CARE CENTERS—SELF-INSURANCE

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Bluebook

Wash. Rev. Code § 48.90.090 (2026).

Text

In managing the assets of the contributing trust fund, the association shall exercise the reasonable judgment and care that ordinary persons of prudence, intelligence, and discretion exercise in the sound management of their affairs, not in regard to speculation but in regard to preservation of their funds with maximum return, given the information reasonably available. The association may delegate this duty to a responsible fiduciary. If the fiduciary has special skills or represents that it has special skills, then the fiduciary is under a duty to use those skills in the management of the fund's assets.

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In managing the assets of the contributing trust fund, the association shall exercise the reasonable judgment and care that ordinary persons of prudence, intelligence, and discretion exercise in the sound management of their affairs, not in regard to speculation but in regard to preservation of their funds with maximum return, given the information reasonably available. The association may delegate this duty to a responsible fiduciary. If the fiduciary has special skills or represents that it has special skills, then the fiduciary is under a duty to use those skills in the management of the fund's assets.