Trustee Duty to Inform: trustees must promptly ascertain trust property, secure transfers, and safeguard trust funds. A trustee must promptly ascertain the nature and circumstances of trust-property, obtain necessary transfers to himself, and, subject to the trust instrument, invest trust-moneys on sufficient and non-hazardous security; he must recover outstanding debts when no discretion to delay exists, and co-trustees must not retain trust money longer than circumstances require.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Trustee Duty to Inform: trustees must promptly ascertain trust property, secure transfers, and safeguard trust funds.
A trustee must promptly ascertain the nature and circumstances of trust-property, obtain necessary transfers to himself, and, subject to the trust instrument, invest trust-moneys on sufficient and non-hazardous security; he must recover outstanding debts when no discretion to delay exists, and co-trustees must not retain trust money longer than circumstances require.
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