Prob. Code, § 16002 · Article 1. Trustee’s Duties in General
Prob. Code, § 16002
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) The trustee has a duty to administer the trust solely in the interest of the beneficiaries.
(b) It is not a violation of the duty provided in subdivision (a) for a trustee who administers two trusts to sell, exchange, or participate in the sale or exchange of trust property between the trusts, if both of the following requirements are met:
(1) The sale or exchange is fair and reasonable with respect to the beneficiaries of both trusts.
(2) The trustee gives to the beneficiaries of both trusts notice of all material facts related to the sale or exchange that the trustee knows or should know.
Notes and commentary — not statutory text
History
Enacted by Stats. 1990, Ch. 79.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=PROB§ionNum=16002.
- Text hash
- sha256 ea5946ad3b2a2bf642ac657a6f2743de3045e8bc4f76b9aec864a07691cfffd1
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Cited by 3 provisions
Provisions in this library whose text cites Prob. Code, § 16002. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.