§ 18-15-10. Language invoking standard of chapter.
The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorize any investment or strategy permitted under this chapter: “investments permissible by law for investment of trust funds,” “legal investments,” “authorized investments,” “using the judgment and care under the circumstances then prevailing that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital,” “prudent man rule,” “prudent trustee rule,” “prudent person rule,” and “prudent investor rule.”
History of Section.P.L. 1996, ch. 276, § 1.
Structure Rhode Island General Laws
Chapter 18-15 - Rhode Island Uniform Prudent Investor Act
Section 18-15-1. - Prudent investor rule.
Section 18-15-2. - Standard of care — Portfolio strategy — Risk and return objectives.
Section 18-15-3. - Diversification.
Section 18-15-4. - Duties at inception of trusteeship.
Section 18-15-6. - Impartiality.
Section 18-15-7. - Investment costs.
Section 18-15-8. - Reviewing compliance.
Section 18-15-9. - Delegation of investment and management functions.
Section 18-15-10. - Language invoking standard of chapter.
Section 18-15-11. - Application to existing trusts.
Section 18-15-12. - Uniformity of application and construction.