{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-784.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-784.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-784.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-784.html"}],"law_id":75505,"edition_id":1,"section_id":75505,"structure_id":14391,"section_number":"64.2-784","catch_line":"Duties at inception of trusteeship","history":"1999, c. 772, \u00a7 26-45.6; 2012, c. 614.","full_text":"Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust, and with the requirements of this article.","order_by":null,"text":{"0":{"id":270986,"text":"Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust, and with the requirements of this article.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14391,"edition_id":1,"name":"Uniform Prudent Investor Act","identifier":"9","label":"article","depth":4,"order_by":1,"parent_id":12725,"metadata":{},"date_created":"2026-06-26 03:47:58","date_modified":"2026-06-26 03:47:58","permalink":{"id":274685,"object_type":"structure","relational_id":14391,"identifier":"9","token":"64.2\/III\/7\/9","url":"\/64.2\/III\/7\/9\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12725,"edition_id":1,"name":"Uniform Trust Code","identifier":"7","label":"chapter","depth":3,"order_by":1,"parent_id":12724,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":274107,"object_type":"structure","relational_id":12725,"identifier":"7","token":"64.2\/III\/7","url":"\/64.2\/III\/7\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12724,"edition_id":1,"name":"Trusts","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12723,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":273811,"object_type":"structure","relational_id":12724,"identifier":"III","token":"64.2\/III","url":"\/64.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12723,"edition_id":1,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":272781,"object_type":"structure","relational_id":12723,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":57841,"structure_id":14391,"section_number":"64.2-780","catch_line":"Definition of terms","url":"\/64.2-780\/","token":"64.2\/III\/7\/9\/64.2-780","metadata":false},{"id":80791,"structure_id":14391,"section_number":"64.2-781","catch_line":"Prudent investor rule","url":"\/64.2-781\/","token":"64.2\/III\/7\/9\/64.2-781","metadata":false},{"id":86440,"structure_id":14391,"section_number":"64.2-782","catch_line":"Standard of care; portfolio strategy; risk and return objectives","url":"\/64.2-782\/","token":"64.2\/III\/7\/9\/64.2-782","metadata":false},{"id":61446,"structure_id":14391,"section_number":"64.2-783","catch_line":"Diversification by trustee","url":"\/64.2-783\/","token":"64.2\/III\/7\/9\/64.2-783","metadata":false},{"id":75505,"structure_id":14391,"section_number":"64.2-784","catch_line":"Duties at inception of trusteeship","url":"\/64.2-784\/","token":"64.2\/III\/7\/9\/64.2-784","metadata":false},{"id":55729,"structure_id":14391,"section_number":"64.2-785","catch_line":"Loyalty and impartiality","url":"\/64.2-785\/","token":"64.2\/III\/7\/9\/64.2-785","metadata":false},{"id":78422,"structure_id":14391,"section_number":"64.2-786","catch_line":"Investment costs","url":"\/64.2-786\/","token":"64.2\/III\/7\/9\/64.2-786","metadata":false},{"id":72391,"structure_id":14391,"section_number":"64.2-787","catch_line":"Reviewing compliance","url":"\/64.2-787\/","token":"64.2\/III\/7\/9\/64.2-787","metadata":false},{"id":63912,"structure_id":14391,"section_number":"64.2-788","catch_line":"Delegation of investment and management functions","url":"\/64.2-788\/","token":"64.2\/III\/7\/9\/64.2-788","metadata":false},{"id":81931,"structure_id":14391,"section_number":"64.2-789","catch_line":"Language invoking standard of article","url":"\/64.2-789\/","token":"64.2\/III\/7\/9\/64.2-789","metadata":false},{"id":69448,"structure_id":14391,"section_number":"64.2-790","catch_line":"Application to existing trusts","url":"\/64.2-790\/","token":"64.2\/III\/7\/9\/64.2-790","metadata":false},{"id":74364,"structure_id":14391,"section_number":"64.2-791","catch_line":"Uniformity of application and construction","url":"\/64.2-791\/","token":"64.2\/III\/7\/9\/64.2-791","metadata":false}],"previous_section":{"id":61446,"structure_id":14391,"section_number":"64.2-783","catch_line":"Diversification by trustee","url":"\/64.2-783\/","token":"64.2\/III\/7\/9\/64.2-783","metadata":false},"next_section":{"id":55729,"structure_id":14391,"section_number":"64.2-785","catch_line":"Loyalty and impartiality","url":"\/64.2-785\/","token":"64.2\/III\/7\/9\/64.2-785","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-784\/","history_text":"

This law was first created in 1999. The record of its establishment is cataloged in chapter 772<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2012, chapter 614<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":274703,"object_type":"law","relational_id":75505,"identifier":"64.2-784","token":"64.2\/III\/7\/9\/64.2-784","url":"\/64.2-784\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-784\/","token":"64.2\/III\/7\/9\/64.2-784","dublin_core":{"Title":"Duties at inception of trusteeship","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-784","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Within a reasonable time after accepting a trusteeship or receiving trust<\/span> assets<\/span>, a trustee<\/span> shall review the trust<\/span> assets<\/span> and make and implement decisions concerning the retention and disposition<\/span> of assets<\/span>, in order<\/span> to bring the trust<\/span> portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust<\/span>, and with the requirements of this article.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDUTIES AT INCEPTION OF TRUSTEESHIP (\u00a7 64.2-784)\n\nWithin a reasonable time after accepting a trusteeship or receiving trust\nassets, a trustee shall review the trust assets and make and implement decisions\nconcerning the retention and disposition of assets, in order to bring the trust\nportfolio into compliance with the purposes, terms, distribution requirements,\nand other circumstances of the trust, and with the requirements of this article.\n\nHISTORY: 1999, c. 772, \u00a7 26-45.6; 2012, c. 614.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}