§904. Duties at inception of trusteeship
Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements and other circumstances of the trust and with the requirements of this chapter. [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
Structure Maine Revised Statutes
Part 1: MAINE UNIFORM TRUST CODE
Chapter 9: MAINE UNIFORM PRUDENT INVESTOR ACT
18-B §901. Prudent investor rule
18-B §902. Standard of care; portfolio strategy; risk and return objectives
18-B §904. Duties at inception of trusteeship
18-B §905. Reviewing compliance
18-B §906. Language invoking standard of chapter