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District of Columbia Code Division V. Local Business Affairs § 29-1205.05. Standards of conduct for trustees.

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 29-1205.05. Standards of conduct for trustees. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-29-1205-05/

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