72-38-903. Diversification -- duty of trustee -- exception. (1) Subject to subsection (2), in making and implementing investment decisions, the trustee has a duty to diversify the investments of the trust unless, under the circumstances, it is not prudent to do so.
(2) If trust assets include farm or ranch property, a closely held family business, timber interests, or interests in oil, gas, or minerals, the trustee may elect to retain those assets. A trustee's exercise of discretion to retain assets of the character described in this subsection is not a breach of the trustee's duty to diversify investments.
History: En. Sec. 114, Ch. 264, L. 2013.
Structure Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 38. Montana Uniform Trust Code
Part 9. Uniform Prudent Investor Act
72-38-901. Prudent investor rule
72-38-902. Standard of care -- investments and management -- considerations
72-38-903. Diversification -- duty of trustee -- exception
72-38-904. Review of assets -- time for compliance
72-38-905. Compliance determinations -- standards
72-38-906. Interpretation of trust terms construing legal investments