Prudent Person definition

Prudent Person means a fiduciary responsibility to discharge one’s duties to DPERS solely in the interests of participants and their beneficiaries with such care, skill, prudence, and diligence as a person acting in like circumstances would exercise in the conduct of an enterprise with similar characteristics and aims.
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Prudent Person means an individual who uses good judgement or common sense in handling practical matters. The actions of a person exercising common sense in a similar situation are the guide in determining whether an individual’s actions were reasonable.
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Prudent Person. Rule May Be Waived In The Discretion of Trustee. In addition to the investment powers conferred above, the trustee is specifically authorized (but not directed) to acquire and retain investments not regarded as traditional for trusts, including investments that would be forbidden or would be regarded as imprudent, improper or unlawful by the "prudent person" rule, "prudent investor" rule, or any other rule or law which restricts a fiduciary's capacity to invest. The trustee, in the exercise of its discretion may invest in any type of property, wherever located, including any type of security or option, improved or unimproved real property, and tangible or intangible personal property, and in any manner, including direct purchase, joint ventures, partnerships, limited partnerships, limited liability companies, corporations, mutual funds, business trusts or any other form of participation or ownership whatsoever. In making investments, the trustee may disregard any or all of the following factors: (1) Whether a particular investment, or the trust investments collectively, will produce a reasonable rate of return or result in the preservation of principal. (2) Whether the settlor, or any person related to the settlor, the trustee, or entities in which one or more of them participate or are beneficially interested also owns an interest in, or is a director, officer or otherwise participates in, a particular investment. (3) Whether the trust is diversified. The settlor intends that no duty to diversify shall exist. (4) Whether any or all of the trust investments would traditionally be classified as too risky or speculative for trusts. The entire trust may be so invested. The settlor intends the trustee to have its sole and absolute discretion in determining what constitutes acceptable risk and what constitutes proper investment strategy. The settlor's purpose in granting the foregoing authority is to modify the "prudent person" rule, "prudent investor" rule, or any other rule or law which restricts a fiduciary's ability to invest insofar as any such rule or law would prohibit an investment or investments because of one or more factors listed above, or any other factor relating to the nature of the investment itself. It is in the best interests of the beneficiaries of the trusts created hereunder to give the trustee broad discretion in managing the assets of any trust created hereunder Notwithstanding anything contained hereunder, the waiver described in this Su...
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Examples of Prudent Person in a sentence

  • Subject to its obligations under this Contract, the Operator may (but is not obliged to) compress, cool, heat, clean and apply other processes to Gas during transportation acting as a Reasonable and Prudent Person consistent with its operation of the DBNGP.

  • The Operator may in its discretion as a Reasonable and Prudent Person specify the range of pressures within which the Shipper may Deliver Gas to the Operator at a New Inlet Point, and within which the Operator may Deliver Gas to the Shipper at a New Outlet Point but in no case may the specified range of pressures be substantially different from the DBNGP operating pressure range at that point.

  • The Operator may do all things expected of a Reasonable and Prudent Person to maintain a balance between total Gas inputs to, and total Gas outputs from, the DBNGP, including (subject to the provisions of this clause and this Contract) restricting the quantity of Gas it Delivers to the Shipper at an Outlet Point, and restricting the quantity of Gas it Receives from the Shipper at an Inlet Point in accordance with this Contract.

  • The standard of prudence to be used by the Treasurer shall be the "Prudent Person" standard and shall be applied in the context of managing an overall portfolio.

  • This discretionary authority, known as the "Prudent Person Rule", permits the selection of a variety of investments, allowing for diversity in the degree of risk and liquidity.

  • The standard of prudence to be used by the Treasurer/Collector shall be the "Prudent Person" standard and shall be applied in the context of managing an overall portfolio.

  • Prudent Person Principle AIPL ensures that its assets are invested in accordance with the prudent person principle as set out in Article 132 (Directive 2009/138/EC) through the collective application of its risk policies and business standards.

  • The Investment Officers shall exercise a Prudent Person Standard at all times with regard to all funds.

  • If Western Power* notifies the User* of a Curtailment* of Services* under clause 25.3 in respect of a Connection Point*, the User* (acting as a Reasonable and Prudent Person*) must comply, or procure compliance, with any reasonable requirements set out in the notice concerning the Curtailment*.

  • While the Prudent Person Rule is the standard of prudence to be used by investment officials who are officers or employees of the I-Bank, any person or firm, including, without limitation, the Investment Advisory Firm, hired or retained to invest, monitor, or advise the I-Bank concerning the Investment Portfolio and the Activitiesshall be held to the higher standard of "PrudentExpert".


More Definitions of Prudent Person

Prudent Person would exercise or use under the circumstances in the conduct of such person's own affairs.
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Prudent Person means the persons performing the County’s Investment functions shall act as a “prudent person” in accordance with County Policies and Procedures exercising due diligence. Investments shall be made with judgment and care, under prevailing circumstances, which persons of prudence, discretion, and intelligence would exercise in the management of their own affairs, not for speculation, but for investment to protect from shady, risky, or otherwise questionable Investments.
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Prudent Person means a person who:
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Prudent Person means a trustee whose exercise of trust powers is reasonable and equitable in view of the interests of income or principal beneficiaries, or both, and in view of the manner in which persons of ordinary prudence, diligence, discretion, and judgment would act in the management of their own affairs.
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Related to Prudent Person

  • Independent Person means a person appointed under section 28(7) of the 2011 Act;

  • Dependent person means a person who cannot demonstrate financial independence from parents or persons other than a spouse and who does not meet the criteria for independence established in Section 5 of this administrative regulation.

  • Drug-dependent person means a person who is using a

  • Investment Person means all Portfolio Managers of Loomis Sayles and other Advisory Persons who assist the Portfolio Managers in making and implementing investment decisions for an Investment Company or other client of Loomis Sayles, including, but not limited to, designated Research Analysts and traders of Loomis Sayles. A person is considered an Investment Person only as to those client accounts or types of client accounts as to which he or she is designated by Personal Trading Compliance or the Chief Compliance Officer as such. As to other accounts, he or she is simply an Access Person.

  • Handyperson means a person who is not a tradesperson and whose duties include the performance of routine repair work and maintenance in and about the employer’s premises.

  • Indigent person means a person whose household income does not exceed the minimum household income as predetermined by the council;

  • Controlled unaffiliated business means a company:

  • Constituent Person has the meaning specified in Section 5.6(b).

  • Acquired Person means, with respect to any specified Person, any other Person which merges with or into or becomes a Subsidiary of such specified Person.

  • competent person means a person who has, in respect of the work or task to be performed, the required knowledge, training and experience and, where applicable, qualifications, specific to that work or task: Provided that where appropriate qualifications and training are registered in terms of the provisions of the National Qualification Framework Act, 2000 (Act No.67 of 2000), those qualifications and that training must be regarded as the required qualifications and training; and is familiar with the Act and with the applicable regulations made under the Act;

  • Supervised Person means directors, officers and partners of an Adviser (or other persons occupying a similar status or performing similar functions), employees of an Adviser, and any other person who provides advice on behalf of an Adviser and is subject to the Adviser’s supervision and control.

  • Investment Personnel means: (a) Portfolio Managers and other Advisory Persons who provide investment information and/or advice to the Portfolio Manager(s) and/or help execute the Portfolio Manager's(s') investment decisions, including securities analysts and traders; (b) any natural person in a control relationship to the Fund who obtains information concerning recommendations made to the Fund with regard to the purchase or sale of a security; and (c) certain other individuals as designated by the Compliance Officer.

  • Subject Person has the meaning assigned to such term in the definition of “Consolidated Net Income”.

  • relevant person means, in relation to premises in respect of which there is in force a premises licence -

  • Elderly person means any person 65 years of age or older who is not subject to the provisions of ORS 441.640 to 441.665.

  • young person means a person who falls within the definition of qualifying young person in section 142 of the SSCBA.

  • Exposed person means any person wholly or partially in a danger zone;

  • Resident Personnel means such persons who at the time of being so hired had their domicile inside India;

  • Defendant/Person Under Supervision means any pretrial releasee, probationer, parolee, mandatory releasee, mandatory parolee, or supervised releasee receiving drug/alcohol testing and/or substance use assessment/treatment, mental health assessment/evaluation/treatment, and or sex offense specific evaluation/treatment/testing while under the supervision of the Federal Probation or Pretrial Services Office. Hereinafter, the term defendant applies to those on pretrial supervision, whereas person under supervision applies to those on post- conviction supervision.

  • Unsuitable Person means a Person who (i) fails or refuses to file an application, or has withdrawn or requested the withdrawal of a pending application, to be found suitable by any Gaming Authority or for any Gaming License, (ii) is denied or disqualified from eligibility for any Gaming License by any Gaming Authority, (iii) is determined by a Gaming Authority to be unsuitable or disqualified to Own or Control any Securities, (iv) is determined by a Gaming Authority to be unsuitable to be Affiliated, associated or involved with a Person engaged in Gaming Activities in any Gaming Jurisdiction, (v) causes any Gaming License of the Corporation or any Affiliated Company to be lost, rejected, rescinded, suspended, revoked or not renewed by any Gaming Authority, or causes the Corporation or any Affiliated Company to be threatened by any Gaming Authority with the loss, rejection, rescission, suspension, revocation or non-renewal of any Gaming License (in each of (ii) through (v) above, regardless of whether such denial, disqualification or determination by a Gaming Authority is final and/or non-appealable), or (vi) is deemed likely, in the sole and absolute discretion of the Board of Directors, to (A) preclude or materially delay, impede, impair, threaten or jeopardize any Gaming License held by the Corporation or any Affiliated Company or the Corporation’s or any Affiliated Company’s application for, right to the use of, entitlement to, or ability to obtain or retain, any Gaming License, (B) cause or otherwise result in, the disapproval, cancellation, termination, material adverse modification or non-renewal of any material contract to which the Corporation or any Affiliated Company is a party, or (C) cause or otherwise result in the imposition of any materially burdensome or unacceptable terms or conditions on any Gaming License of the Corporation or any Affiliated Company.

  • Person means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity.

  • Permitted Affiliate means with respect to any Person (a) any Person that directly or indirectly controls such Person, and (b) any Person which is controlled by or is under common control with such controlling Person. As used in this definition, the term “control” of a Person means the possession, directly or indirectly, of the power to vote eighty percent (80%) or more of any class of voting securities of such Person or to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

  • Appraisal management company means, in connection with valuing properties collateralizing mortgage loans or mortgages incorporated into a securitization, any external third party that oversees a network or panel of more than fifteen certified or licensed appraisers in this state or twenty-five or more nationally within a given year, that is authorized either by a creditor of a consumer credit transaction secured by a consumer's principal dwelling or by an underwriter or other principal in the secondary mortgage markets that engages in appraisal management services.

  • prescribed person means a person prescribed in O. Reg. 208/19 (Environmental Compliance Approval in Respect of Sewage Works) for the purpose of ss. 20.6 (1) of the EPA, and where the alteration, extension, enlargement, or replacement is carried out under an agreement with the Owner.

  • portfolio adviser means a person or company that provides investment advice or portfolio management services under a contract with the investment fund or with the manager of the investment fund;

  • Controlling Person With respect to any Person, any other Person who “controls” such Person within the meaning of the Securities Act.