Del. Code tit. 12 § 3316

Current through 2024 Legislative Session Act Chapter 510

Section 3316 - Substituted property; equivalent value; fiduciary duty

Except as otherwise expressly provided by the terms of a governing instrument, if a trustor has a power to substitute property of equivalent value, the fiduciary responsible for investment decisions has a fiduciary duty to determine that the substituted property is of equivalent value prior to allowing the substitution.

12 Del. C. § 3316

Amended by Laws 2013, ch. 197,s 1, eff. 2/25/2014.

77 Del. Laws, c. 330, § 5.;