Delaware § 3316 - Substituted property; equivalent value; fiduciary duty.
Full text of Delaware Delaware Code § 3316 — Substituted property; equivalent value; fiduciary duty., with citation guidance and answers to common questions.
§ 3316. Substituted property; equivalent value; fiduciary duty.
Except as otherwise expressly provided by the terms of a governing instrument, if a trustor has a power to substitute property of equivalent value, the fiduciary responsible for investment decisions has a fiduciary duty to determine that the substituted property is of equivalent value prior to allowing the substitution.
77 Del. Laws, c. 330, § 5; 79 Del. Laws, c. 197, § 1;Source: official Delaware text · Last verified 2026-08-27
Frequently Asked Questions About Delaware § 3316
What does Delaware Code § 3316 cover?
Section 3316 ("Substituted property; equivalent value; fiduciary duty.") is part of the Delaware Code, the codified statutory law of Delaware. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Delaware § 3316?
A common citation format is "Delaware Code § 3316" (Delaware). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Delaware law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Delaware official source linked on this page or consult a licensed Delaware attorney.
How does Delaware § 3316 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Delaware can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Delaware.