75-7-904 - Duties at inception of trusteeship.
75-7-904. Duties at inception of trusteeship.
Within a reasonable time after accepting a trusteeship or receiving trust assets, a trusteeshall review the trust assets and make and implement decisions concerning the retention anddisposition 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 requirementsof this chapter.
Enacted by Chapter 89, 2004 General Session