§ 29-1205.05Title 29

Standards of conduct for trustees.

Subject to § 29-1204.03, in exercising the powers of trusteeship, a trustee shall act in good faith and in a manner the trustee reasonably believes to be in the best interests of the statutory trust. A trustee shall discharge its duties with the care that a person in a similar position would reasonably believe appropriate under similar circumstances.

Annotations

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720
Uniform Law: This section is based on § 505 of the Uniform Statutory Trust Entity Act.
This section is referenced in § 29-1201.04, § 29-1205.09, and § 29-1206.16.

Source XML

Sourced from the DC Council Open Law Library (public domain).

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