58-24a04. Duties at inception of fiduciary relationship.

58-24a04

Chapter 58.--PERSONAL AND REAL PROPERTY Part 6.--MISCELLANEOUS PROVISIONS Article 24a.--UNIFORM PRUDENT INVESTOR ACT

      58-24a04.   Duties at inception of fiduciaryrelationship.Within a reasonable time after entering into a fiduciaryrelationship orreceiving trust assets, a fiduciary shall review the trust assets and make andimplement decisions concerning the retention and disposition of assets, inorder to bring the trust portfolio into compliance with the purposes, termsdistribution requirements and other circumstances of the trust, and with therequirements of this act.

      History:   L. 2000, ch. 80, § 4; July 1.