SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

1999 SESSION

  • | print version

HB 841 Prudent Investor Act; created.

Introduced by: Whittington W. Clement | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Uniform Prudent Investor Act. Adopts the uniform act, which is intended to facilitate reasonable investment practices by trustees. The bill adopts a standard of prudence which is applied to an investment as part of a total portfolio rather than to the individual investment; makes the fiduciary’s central consideration an evaluation of risk versus return; allows investment in anything that meets the requirements of prudent investing; recognizes the need for diversification; and allows delegation of investment and management functions.

This bill is recommended by the Virginia Commissioners to the National Conference of Commissioners on Uniform State Laws.


FULL TEXT

AMENDMENTS

HISTORY