Authorizes Massachusetts cities, towns, and districts to use prudent investor standards for managing trust funds.
This bill allows cities, towns, and districts in Massachusetts to manage trust funds according to the prudent investor standards. It amends the General Laws to include a new subsection allowing these entities to invest trust funds as a combined investment pool. The prudent investor standards are defined in the Massachusetts Prudent Investor Act.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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