05. Standards of conduct for trustees. (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.
District of Columbia Legal Code