36C-9-904. 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. (1999-215, s. 1; 2005-192, s. 2.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 36C - North Carolina Uniform Trust Code
Article 9 - Uniform Prudent Investor Act.
§ 36C-9-901 - Prudent investor rule; applicability.
§ 36C-9-902 - Standard of care; portfolio strategy; risk and return objectives.
§ 36C-9-903 - Diversification.
§ 36C-9-903.1 - Duties as to life insurance.
§ 36C-9-904 - Duties at inception of trusteeship.
§ 36C-9-905 - Reviewing compliance.