Standards of conduct for trustees

  1. Law
  2. District of Columbia Code
  3. Business Organizations. [Enacted title]
  4. Statutory Trusts
  5. Trustees and Trust Management
  6. Standards of conduct for trustees

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(a) 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.

(b) A trustee shall discharge its duties with the care that a person in a similar position would reasonably believe appropriate under similar circumstances.

(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)

Section References

This section is referenced in § 29-1201.04, § 29-1205.09, and § 29-1206.16.

Editor's Notes

Uniform Law: This section is based on § 505 of the Uniform Statutory Trust Entity Act.


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