75-7-907 - Language invoking standard of chapter.
75-7-907. Language invoking standard of chapter.
The following terms or comparable language in the provisions of a trust, unless otherwiselimited or modified, authorizes any investment or strategy permitted under this chapter:"investments permissible by law for investment of trust funds," "legal investments," "authorizedinvestments," "using the judgment and care under the circumstances then prevailing that personsof prudence, discretion, and intelligence exercise in the management of their own affairs, not inregard to speculation but in regard to the permanent disposition of their funds, considering theprobable income as well as the probable safety of their capital," "prudent man rule," "prudenttrustee rule," "prudent person rule," and "prudent investor rule."
Enacted by Chapter 89, 2004 General Session