700.1509 Reviewing compliance. Sec. 1509. Compliance with the prudent investor rule is determined in light of the facts and circumstances that exist at the time of a fiduciary's decision or action, and not by hindsight. The prudent investor rule requires a standard of conduct, not outcome or performance. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
Michigan Legal Code