https://www.taxtmi.com/acts?id=15221 A trustee must manage trust property with the care of an ordinarily prudent person; if so, and absent a contrary contract, the trustee is not liable for loss. The trustee must exercise reasonable diligence in transmissions, choice and supervision of depositories or agents, sale procedures and in preserving insurance; failure in these duties - such as inadequate advertisement of sales, failure to secure purchase money, neglecting premiums, or relying on imprudent personal security - makes the trustee personally answerable for resulting loss, and a trustee must supervise co-trustees to prevent misapplication. en-us Tue, 20 Sep 2011 18:52:36 +0530 Wed, 21 Sep 2011 10:12:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15221 A trustee must manage trust property with the care of an ordinarily prudent person; if so, and absent a contrary contract, the trustee is not liable for loss. The trustee must exercise reasonable diligence in transmissions, choice and supervision of depositories or agents, sale procedures and in preserving insurance; failure in these duties - such as inadequate advertisement of sales, failure to secure purchase money, neglecting premiums, or relying on imprudent personal security - makes the trustee personally answerable for resulting loss, and a trustee must supervise co-trustees to prevent misapplication. Act-Rules Trust and Society Tue, 20 Sep 2011 18:52:36 +0530 https://www.taxtmi.com/acts?id=15221