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HOUSE DOCKET, NO. 96 FILED ON: 1/9/2023
HOUSE . . . . . . . . . . . . . . . No. 2105
The Commonwealth of Massachusetts
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PRESENTED BY:
Jeffrey N. Roy
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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act authorizing municipal use of the prudent investor standards.
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PETITION OF:
NAME:DISTRICT/ADDRESS :DATE ADDED:Jeffrey N. Roy10th Norfolk1/4/2023 1 of 2
HOUSE DOCKET, NO. 96 FILED ON: 1/9/2023
HOUSE . . . . . . . . . . . . . . . No. 2105
By Representative Roy of Franklin, a petition (accompanied by bill, House, No. 2105) of Jeffrey
N. Roy relative to authorizing municipal use of the prudent investor standards. Municipalities
and Regional Government.
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-Third General Court
(2023-2024)
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An Act authorizing municipal use of the prudent investor standards.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
of the same, as follows:
1 SECTION 1. Section 54 of chapter 44 of the General Laws, as appearing in the 2016
2Official Edition, is hereby amended by inserting the following subtitle:
3 “(a) General Rule:”
4 Section 2. Said section is hereby amended by inserting at the end thereof, the following
5subsection:-
6 (b) Prudent Investor Rule.
7 This paragraph shall take effect in any city, town or district upon acceptance in
8accordance with the provisions of section 4 of chapter 4. Upon acceptance of this paragraph any
9city, town, or district may manage trust funds held in its custody as a combined investment pool
10and may invest said funds in accordance with the provisions of the Massachusetts Prudent
11Investor Act of Chapter 203C of the General Laws and not in accordance with paragraph (a) of 2 of 2
12this section. If any provision of this paragraph conflicts with the terms of a bequest, trust, or
13other instrument that expresses the clear intent of the donor, then such funds may be managed
14and invested only in accordance with the terms of such bequest, trust, or other instrument.