{"data":{"id":"us-mt/72-38-903","jurisdiction":"us-mt","citation":"72-38-903","heading":"Diversification -- duty of trustee -- exception.","body":"(1) Subject to subsection (2), in making and implementing investment decisions, the trustee has a duty to diversify the investments of the trust unless, under the circumstances, it is not prudent to do so.\n(2) If trust assets include farm or ranch property, a closely held family business, timber interests, or interests in oil, gas, or minerals, the trustee may elect to retain those assets. A trustee's exercise of discretion to retain assets of the character described in this subsection is not a breach of the trustee's duty to diversify investments.","path":["TITLE 72. ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS","CHAPTER 38. MONTANA UNIFORM TRUST CODE","Part 9. Uniform Prudent Investor Act"],"source_url":"https://mca.legmt.gov/bills/mca/title_0720/chapter_0380/part_0090/section_0030/0720-0380-0090-0030.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:59:34Z","sha256":"a44c352e091bb0d12fa8d5b503a460e8c7b57b802650ab84821b0eebf990ef17","source_id":"us-mt","stale":false,"prev":"us-mt/72-38-902","next":"us-mt/72-38-904"},"notice":"GroundRules: Original legal text. Not legal advice."}