(760 ILCS 3/901)
Sec. 901. Prudent investor rule. (a) Except as otherwise provided in subsection (b), a trustee administering a trust has a duty to invest and manage the trust assets to comply with the prudent investor rule set forth in this Article.
(b) The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by express terms of the trust. A trustee is not liable to a beneficiary for the trustee's reasonable and good faith reliance on those express provisions.
(Source: P.A. 101-48, eff. 1-1-20.) |