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A trustee has a duty to act as a prudent investor.
The business judgement is more stringent when compared to fiduciary duties.
The fiduciary responsibility of a trustee in voting a control block is lower than where he holds only a small fraction of the shares.
According to the Uniform Trust Code, the trustee has a duty of loyalty to administer the trust solely in the interests of the beneficiaries.
The duty to inform and report states that the trustee has a duty to disclose information to the beneficiary and the specifications can vary from state to state.