Delegation of investment authority [Repealed] Repealed. (Apr. 6, 1977, D.C. Law 1-103, §§ 2-10, 23 DCR 8733; Apr. 13, 2005, D.C. Law 15-354, § 68, 52 DCR 2638; Mar. 2, 2007, D.C. Law 16-191, § 48(e), 53 DCR 6794; Jan. 23, 2008, D.C. Law 17-69, § 11, 54 DCR 11650.) Prior Codifications 1981 Ed., § 32-401 to 409. 1973 Ed., § 32-1201 to 32-1209. Editor's Notes Prudent investor rule: Section 2(b) of D.C. Law 12-187 provided that 'the prudent investor rule is a default rule that may be expanded, restricted, eliminated, or otherwise altered by provisions of the trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on provisions of the trust.' Uniform Law: These sections were based upon §§ 1-9 of the Uniform Management of Institutional Funds Act.
District of Columbia Legal Code