reglab/housing_qa huggingface dataset:
WY Stat § 4-10-807 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 8 - Duties and Powers of Trustee|Section 4-10-807 - Delegation by Trustee.

4-10-807. Delegation by trustee.| (a) A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill and caution in:  (i) Selecting an agent;  (ii) Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and  (iii) Periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the terms of the delegation.  (b) In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation.  (c) A trustee who complies with subsection (a) of this section is not liable to the beneficiaries or to the trust for an action of the agent to whom the function was delegated.  (d) By accepting a delegation of powers or duties from the trustee of a trust that is subject to the law of the state of Wyoming, an agent submits to the jurisdiction of the courts of the state of Wyoming even if the agency agreement provides otherwise, and the agent may be made a party to any action or proceeding if the issues relate to a decision, action or inaction of the agent.
WY Stat § 4-10-808 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 8 - Duties and Powers of Trustee|Section 4-10-808 - Powers to Direct.

4-10-808. Powers to direct.| (a) While a trust is revocable, the trustee may follow a written direction of the settlor that is contrary to the terms of the trust.  (b) If the terms of a trust confer upon a person other than the settlor of a revocable trust power to direct certain actions of the trustee, the trustee shall act in accordance with an exercise of the power.  (c) The terms of a trust may confer upon a trustee or other person, as provided in article 7 of this act, a power to direct the modification or termination of the trust.  (d) A person, other than a beneficiary, who holds a power to direct is a fiduciary who, as such, is required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries. The holder of a power to direct is liable for any loss that results from breach of a fiduciary duty with respect to the holder's power.
WY Stat § 4-10-809 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 8 - Duties and Powers of Trustee|Section 4-10-809 - Control and Protection of Trust Property.

4-10-809. Control and protection of trust property.| A trustee shall take reasonable steps to take control of and protect the trust property.
WY Stat § 4-10-810 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 8 - Duties and Powers of Trustee|Section 4-10-810 - Record Keeping and Identification of Trust Property.

4-10-810. Record keeping and identification of trust property.| (a) A trustee shall keep adequate records of the administration of the trust.  (b) A trustee shall keep trust property separate from the trustee's own property.  (c) Except as otherwise provided in subsection (d) of this section, a trustee shall cause the trust property to be designated or titled as provided in W.S. 4-10-402 so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary.  (d) If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of two (2) or more separate trusts.
WY Stat § 4-10-811 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 8 - Duties and Powers of Trustee|Section 4-10-811 - Enforcement and Defense of Claims.

4-10-811. Enforcement and defense of claims.| A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust.
WY Stat § 4-10-812 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 8 - Duties and Powers of Trustee|Section 4-10-812 - Collecting Trust Property.

4-10-812. Collecting trust property.| A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee, and may redress a breach of trust known to the trustee to have been committed by a former trustee.
WY Stat § 4-10-813 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 8 - Duties and Powers of Trustee|Section 4-10-813 - Duty to Inform and Report.

4-10-813. Duty to inform and report.| (a) A trustee shall keep the qualified beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests. Unless unreasonable under the circumstances, a trustee shall promptly respond to a qualified beneficiary's request for information related to the administration of the trust.  (b) A trustee shall comply with the following provisions unless the trust instrument specifically directs, limits or waives this requirement of a trustee:  (i) Upon request of any qualified beneficiary, the trustee shall promptly furnish to the beneficiary a copy of the trust instrument;  (ii) Within sixty (60) days after accepting a trusteeship, the trustee shall notify the qualified beneficiaries of the acceptance and of the trustee's name, address and telephone number;  (iii) Within sixty (60) days after the date the trustee acquires knowledge of the creation of an irrevocable trust, or the date the trustee acquires knowledge that a formerly revocable trust has become irrevocable, whether by the death of the settlor or otherwise, the trustee shall notify the qualified beneficiaries of the trust's existence, of the identity of the settlor or settlors, of the right to request a copy of the trust instrument and of the right to a trustee's report as provided in subsection (c) of this section; and  (iv) The trustee shall notify the qualified beneficiaries in advance of any change in the method or rate of the trustee's compensation.  (c) A trustee shall send to qualified beneficiaries, at least annually and at the termination of the trust, a report of the trust property, liabilities, receipts and disbursements, including the amount of the trustee's compensation, except to the extent compensation has been disclosed consistent with the requirements of W.S. 4-10-802, the allocation of receipts, disbursements, trustee compensation and expenses of administration between income and principal, a listing of the trust assets and, if feasible, their respective market values. Upon a vacancy in a trusteeship, unless a cotrustee remains in office, a report shall be sent to the qualified beneficiaries by the former trustee. A personal representative, conservator or guardian of a deceased or incapacitated trustee may send the qualified beneficiaries a report on the trustee's behalf.  (d) A beneficiary may waive the right to a trustee's report or other information otherwise required to be furnished under this section. A beneficiary, with respect to future reports and other information, may withdraw a waiver previously given.
WY Stat § 4-10-814 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 8 - Duties and Powers of Trustee|Section 4-10-814 - Discretionary Powers; Tax Savings; Distribution Limitations.

4-10-814. Discretionary powers; tax savings; distribution limitations.| (a) Repealed By Laws 2007, Ch. 155, § 5.  (b) Subject to subsection (d) of this section, and unless the terms of the trust expressly indicate that a rule in this subsection does not apply:  (i) A person other than a settlor who is a beneficiary and trustee of a trust that confers on the trustee a power to make discretionary distributions to or for the trustee's personal benefit may exercise the power only in accordance with an ascertainable standard; and  (ii) A trustee may not exercise a power to make discretionary distributions to satisfy a legal obligation of support that the trustee personally owes another person.  (c) A power, the exercise of which is limited or prohibited by subsection (b) of this section may be exercised by a majority of the remaining trustees whose exercise of the power is not so limited or prohibited. If the power of all trustees is so limited or prohibited, the trustee may appoint a special fiduciary with authority to exercise the power.  (d) Subsection (b) of this section does not apply to:  (i) A power held by the settlor's spouse who is the trustee of a trust for which a marital deduction, as defined in Section 2056(b)(5) or 2523(e) of the Internal Revenue Code of 1986, as in effect on July 1, 2003, was previously allowed;  (ii) Any trust during any period that the trust may be revoked or amended by its settlor; or  (iii) Contributions to a trust that qualify for the annual exclusion under Section 2503(c) of the Internal Revenue Code of 1986, as in effect on July 1, 2003, or which are subject to an annual withdrawal right.  (e) A court may review a trustee's exercise of discretion concerning a discretionary distribution only if the trustee acts dishonestly, with improper motive or fails to use judgment.  (f) Except as otherwise provided in the terms of a trust, the trustee shall not consider the assets or resources of a beneficiary in determining whether to make a distribution of trust income or principal.
WY Stat § 4-10-815 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 8 - Duties and Powers of Trustee|Section 4-10-815 - General Powers of Trustee.

4-10-815. General powers of trustee.| (a) A trustee, without authorization by the court, may exercise:  (i) Powers conferred by the terms of the trust; and  (ii) Except as limited by the terms of the trust:  (A) All powers over the trust property which an unmarried competent owner has over individually owned property;  (B) Any other powers appropriate to achieve the proper investment, management and distribution of the trust property; and  (C) Any other powers conferred by this act.  (b) The exercise of a power under this act is subject to the fiduciary duties prescribed by this article.
WY Stat § 4-10-817 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 8 - Duties and Powers of Trustee|Section 4-10-817 - Distribution Upon Termination.

4-10-817. Distribution upon termination.| (a) Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does not notify the trustee of an objection within thirty (30) days after the proposal was sent but only if the proposal informed the beneficiary of the right to object and of the time allowed for objection.  (b) Upon the occurrence of an event terminating or partially terminating a trust, the trustee shall proceed expeditiously to distribute the trust property to the persons entitled to it, subject to the right of the trustee to retain a reasonable reserve for the payment of debts, expenses and taxes.  (c) A release by a beneficiary of a trustee from liability for breach of trust is invalid to the extent:  (i) It was induced by improper conduct of the trustee; or  (ii) The beneficiary, at the time of the release, did not know of the beneficiary's rights or of the material facts relating to the breach.
WY Stat § 4-10-901 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 9 - Uniform Prudent Investor Act|Section 4-10-901 - Prudent Investor Rule; Definitions.

4-10-901. Prudent investor rule; definitions.| (a) Except as otherwise provided in subsection (b) of this section, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in this article.  (b) The prudent investor rule, a default rule, may be expanded, restricted, eliminated or otherwise altered by the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.
WY Stat § 4-10-903 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 9 - Uniform Prudent Investor Act|Section 4-10-903 - Diversification.

4-10-903. Diversification.| A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying.
WY Stat § 4-10-904 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 9 - Uniform Prudent Investor Act|Section 4-10-904 - Duties at Inception of Trusteeship.

4-10-904. Duties at inception of trusteeship.| 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.
WY Stat § 4-10-905 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 9 - Uniform Prudent Investor Act|Section 4-10-905 - Loyalty.

4-10-905. Loyalty.| A trustee shall invest and manage the trust assets solely in the interest of the beneficiaries.
WY Stat § 4-10-906 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 9 - Uniform Prudent Investor Act|Section 4-10-906 - Impartiality.

4-10-906. Impartiality.| If a trust has two (2) or more beneficiaries, the trustee shall act impartially in investing and managing the trust assets, taking into account any differing interests of the beneficiaries.
WY Stat § 4-10-907 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 9 - Uniform Prudent Investor Act|Section 4-10-907 - Investment Costs.

4-10-907. Investment costs.| In investing and managing trust assets, a trustee may only incur costs that are appropriate and reasonable in relation to the assets, the purposes of the trust, and the skills of the trustee.
WY Stat § 4-10-908 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 9 - Uniform Prudent Investor Act|Section 4-10-908 - Reviewing Compliance.

4-10-908. Reviewing compliance.| Compliance with the prudent investor rule under this article is determined in light of the facts and circumstances existing at the time of a trustee's decision or action and not by hindsight.
WY Stat § 4-10-909 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 9 - Uniform Prudent Investor Act|Section 4-10-909 - Delegation of Investment and Management Functions.

4-10-909. Delegation of investment and management functions.| (a) A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill and caution in:  (i) Selecting an agent;  (ii) Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and  (iii) Periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the terms of the delegation.  (b) In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation.  (c) A trustee who complies with the requirements of subsection (a) of this section is not liable to the beneficiaries or to the trust for the decisions or actions of the agent to whom the function was delegated.  (d) By accepting the delegation of a trust function from the trustee of a trust that is subject to the law of this state, an agent submits to the jurisdiction of the courts of the state of Wyoming even if investment advisory agreements or other related agreements provide otherwise, and the agent may be made a party to any action or proceeding if issues relate to a decision, action or inaction of the agent.
WY Stat § 4-10-910 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 9 - Uniform Prudent Investor Act|Section 4-10-910 - Language Invoking Standard of This Article.

4-10-910. Language invoking standard of this article.| (a) The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under this article:  (i) "Investments permissible by law for investment of trust funds";  (ii) "Legal investments";  (iii) "Authorized investments";  (iv) "Using the judgment and care under the circumstances then prevailing that persons of prudence, discretion and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital";  (v) "Prudent man rule," "prudent trustee rule," "prudent person rule" or "prudent investor rule."
WY Stat § 4-10-911 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 9 - Uniform Prudent Investor Act|Section 4-10-911 - Application to Public Funds of the State of Wyoming.

4-10-911. Application to public funds of the state of Wyoming.| This article applies to public funds of the state of Wyoming unless a different investment standard is specifically provided for the investment of specified public funds.
WY Stat § 4-10-913 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 9 - Uniform Prudent Investor Act|Section 4-10-913 - Short Title.

4-10-913. Short title.| This article may be cited as the "Wyoming Uniform Prudent Investor Act."
WY Stat § 4-10-1001 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 10 - Liability of Fiduciaries and Rights of Persons Dealing With Fiduciaries|Section 4-10-1001 - Remedies for Breach of Trust.

4-10-1001. Remedies for breach of trust.| (a) A violation by a fiduciary of a duty the fiduciary owes to a beneficiary is a breach of trust.  (b) To remedy a breach of trust that has occurred or may occur, the court may:  (i) Compel the fiduciary to perform the fiduciary's duties;  (ii) Enjoin the fiduciary from committing a breach of trust;  (iii) Compel the fiduciary to redress a breach of trust by paying money, restoring property or other means;  (iv) Order a fiduciary to account;  (v) Appoint a special fiduciary to take possession of the trust property and administer the trust;  (vi) Suspend the fiduciary;  (vii) Remove the fiduciary as provided in W.S. 4-10-706;  (viii) Reduce or deny compensation to the fiduciary;  (ix) Subject to the rights of persons dealing with a fiduciary as provided in W.S. 4-10-1013, void an act of the fiduciary, impose a lien or a constructive trust on trust property or trace trust property wrongfully disposed of and recover the property or its proceeds; or  (x) Order any other appropriate relief.
WY Stat § 4-10-1002 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 10 - Liability of Fiduciaries and Rights of Persons Dealing With Fiduciaries|Section 4-10-1002 - Damages for Breach of Trust.

4-10-1002. Damages for breach of trust.| (a) A fiduciary who commits a breach of trust is liable to the beneficiaries affected for the greater of:  (i) The amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or  (ii) The profit the fiduciary made by reason of the breach.  (b) Except as otherwise provided in this subsection, if more than one (1) fiduciary is liable to the beneficiaries for a breach of trust, a fiduciary is entitled to contribution from the other fiduciary or fiduciaries. A fiduciary is not entitled to contribution if the fiduciary was substantially more at fault than another fiduciary or if the fiduciary committed the breach of trust in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries. A fiduciary who received a benefit from the breach of trust is not entitled to contribution from another fiduciary to the extent of the benefit received.
WY Stat § 4-10-1003 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 10 - Liability of Fiduciaries and Rights of Persons Dealing With Fiduciaries|Section 4-10-1003 - Damages in Absence of Breach.

4-10-1003. Damages in absence of breach.| (a) A fiduciary is accountable to an affected beneficiary for any profit made by the fiduciary arising from the administration of the trust, even absent a breach of trust.  (b) Absent a breach of trust, a fiduciary is not liable to a beneficiary for a loss or depreciation in the value of trust property or for not having made a profit.
WY Stat § 4-10-1004 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 10 - Liability of Fiduciaries and Rights of Persons Dealing With Fiduciaries|Section 4-10-1004 - Attorney's Fees and Costs.

4-10-1004. Attorney's fees and costs.| In a judicial proceeding involving the administration of a trust, the court, as justice and equity may require, may award costs and expenses, including reasonable attorney's fees, to any party, to be paid by another party or from the trust that is the subject of the controversy.
WY Stat § 4-10-1005 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 10 - Liability of Fiduciaries and Rights of Persons Dealing With Fiduciaries|Section 4-10-1005 - Limitation of Action Against Fiduciary.

4-10-1005. Limitation of action against fiduciary.| (a) A beneficiary may not commence a proceeding against a fiduciary for breach of trust more than two (2) years after the date the beneficiary or a representative of the beneficiary received a report that adequately disclosed the existence of a potential claim for breach of trust and informed the beneficiary of the time allowed for commencing a proceeding.  (b) A report adequately discloses the existence of a potential claim for breach of trust if it provides sufficient information so that the beneficiary or representative knows of the potential claim or should have inquired into its existence.  (c) If subsection (a) of this section does not apply, a judicial proceeding by a beneficiary against a fiduciary for breach of trust shall be commenced within three (3) years after the first of the following to occur:  (i) The removal, resignation or death of the fiduciary;  (ii) The termination of the beneficiary's interest in the trust; or  (iii) The termination of the trust.
WY Stat § 4-10-1006 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 10 - Liability of Fiduciaries and Rights of Persons Dealing With Fiduciaries|Section 4-10-1006 - Reliance on Trust Instrument.

4-10-1006. Reliance on trust instrument.| A fiduciary who acts in reasonable reliance on the terms of the trust as expressed in the trust instrument is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance.
WY Stat § 4-10-1007 (2021)
2021 Wyoming Statutes|Title 4 - Trusts|Chapter 10 - Uniform Trust Code|Article 10 - Liability of Fiduciaries and Rights of Persons Dealing With Fiduciaries|Section 4-10-1007 - Event Affecting Administration or Distribution.

4-10-1007. Event affecting administration or distribution.| If the happening of an event, including marriage, divorce, performance of educational requirements or death, affects the administration or distribution of a trust, a fiduciary who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the fiduciary's lack of knowledge.