Though more than a dozen years have passed since the National Conference of Commissioners on Uniform State Laws approved and recommended that states adopt the Uniform Prudent Investor Act (UPIA), there still is relatively little case law interpreting the statute and its various state-by-state adaptations.1 Further, the law that does exist is far from clear. Adding to the confusion is the fact that the so-called Prudent Person Rule, the somewhat less stringent common law standard that guided ...

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