2012 Missouri Revised Statutes
TITLE XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY
Chapter 469 Disclaimers of Property
Section 469.901 Trustee duties, settlor may restrict or expand.
Trustee duties, settlor may restrict or expand.
469.901. 1. Except as otherwise provided in subsection 2 of this section, or by other applicable laws, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in this act**.
2. A settlor may expand or restrict the prudent investor rule detailed in this act** by express provisions in the trust instrument. A trustee is not liable to a beneficiary for the trustee's good faith reliance on these express provisions.
(L. 1996 H.B. 1432, A.L. 2004 H.B. 1511)*Transferred 2004; formerly 456.901
**"This act" (H.B. 1432, 1996) contained numerous sections. Consult Disposition of Sections table for a definitive listing.
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