Section 19-3B-904 Duties at inception of trusteeship. - Alabama Statutes

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Section 19-3B-904

Duties at inception of trusteeship.

Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust, and with the requirements of this chapter.

(Act 2006-216, p. 314, §1.)

State Codes and Statutes

Statutes > Alabama > Title19 > Chapter3B > 19-3B-904

Section 19-3B-904

Duties at inception of trusteeship.

Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust, and with the requirements of this chapter.

(Act 2006-216, p. 314, §1.)

State Codes and Statutes

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State Codes and Statutes

Statutes > Alabama > Title19 > Chapter3B > 19-3B-904

Section 19-3B-904

Duties at inception of trusteeship.

Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust, and with the requirements of this chapter.

(Act 2006-216, p. 314, §1.)