Cal. PROB § 16046
This is the official text of Cal. PROB § 16046, part of California’s Probate Code — governs wills, trusts, estates, and conservatorships.
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Official statutory text
(a) Except as provided in subdivision (b), a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule.
(b) The settlor may expand or restrict the prudent investor rule by express provisions in the trust instrument. A trustee is not liable to a beneficiary for the trustee’s good faith reliance on these express provisions.
(b) The settlor may expand or restrict the prudent investor rule by express provisions in the trust instrument. A trustee is not liable to a beneficiary for the trustee’s good faith reliance on these express provisions.
Status: in_force · Read it on the official government site
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