Section 2. (a) Except as provided in subsection (b), a trustee who invests and manages trust assets shall owe a duty to the beneficiaries of a trust to comply with the prudent investor rule set forth in this chapter.
(b) The prudent investor rule may be expanded, restricted, eliminated or otherwise altered by the provisions of a trust. A trustee shall not be liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.
Structure Massachusetts General Laws
Part II - Real and Personal Property and Domestic Relations
Chapter 203c - Prudent Investment
Section 2 - Trustees Managing Trust Assets; Duty to Comply With Prudent Investor Rule
Section 3 - Investment and Management Decisions
Section 6 - Beneficiaries' Interests
Section 7 - Two or More Beneficiaries
Section 9 - Determination of Compliance With Prudent Investor Rule
Section 10 - Delegation of Investment and Management Functions