§554C-4 - Duties at inception of trusteeship.
[§554C-4] 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. [L 1997, c 26, pt of §1]