HB 841 Prudent Investor Act; created.
Whittington W. Clement | all patrons    ...    notes
| add to my profiles

Summary:
Uniform Prudent Investor Act. Adopts the uniform act, which is intended to facilitate reasonable investment practices by trustees. The bill adopts a standard of prudence which is applied to an investment as part of a total portfolio rather than to the individual investment; makes the fiduciary's central consideration an evaluation of risk versus return; allows investment in anything that meets the requirements of prudent investing; recognizes the need for diversification; and allows delegation of investment and management functions.

Full text:
01/26/98  House: Presented & ordered printed 983751152  pdf

Status:
01/26/98  House: Presented & ordered printed 983751152
01/26/98  House: Referred to Committee on General Laws
01/27/98  House: Assigned to General Laws sub-committee: 5
02/05/98  House: Reported from General Laws (26-Y 0-N)
02/05/98  House: Referred to Committee for Courts of Justice
02/09/98  House: Assigned to C. J. sub-committee: 2
02/12/98  House: Continued to 1999 in Courts of Justice (24-Y 0-N)