§ 44–1603. Expenditure of net appreciation of assets of endowment funds — Restrictions by gift instruments; rule of construction [Repealed]

Repealed.

(Apr. 6, 1977, D.C. Law 1-103, §§ 2-10, 23 DCR 8733; Apr. 13, 2005, D.C. Law 15-354, § 68, 52 DCR 2638; Mar. 2, 2007, D.C. Law 16-191, § 48(e), 53 DCR 6794; Jan. 23, 2008, D.C. Law 17-69, § 11, 54 DCR 11650.)

Prior Codifications

1981 Ed., § 32-401 to 409.

1973 Ed., § 32-1201 to 32-1209.

Editor's Notes

Prudent investor rule: Section 2(b) of D.C. Law 12-187 provided that “the prudent investor rule is a default rule that may be expanded, restricted, eliminated, or otherwise altered by provisions of the trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on provisions of the trust.”

Uniform Law: These sections were based upon §§ 1-9 of the Uniform Management of Institutional Funds Act.