§ 91-9-617. Delegation of investment and management
A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in: Selecting an agent; Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and Periodically reviewing the […]
§ 91-9-619. Language invoking standard of article
The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under this article: “Investments permissible by law for investment of trust funds,” “legal investments,” “authorized investments,” “using the judgment and care under the circumstances then prevailing that persons of prudence, discretion, and […]
§ 91-9-621. Application to existing trusts
This article applies to trusts existing on and created after its effective date. As applied to trusts existing on its effective date, this article governs only decisions or actions occurring after that date.
§ 91-9-623. Uniformity of application and construction
This article shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this article among the states enacting it.
§ 91-9-625. Short title
Sections 91-9-601 through 91-9-627 may be cited as the “Mississippi Uniform Prudent Investor Act.”
§ 91-9-627. Severability
If any provision of this article or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this article which can be given effect without the invalid provision or application, and to this end the provisions of this article are severable.
§ 91-9-701. Short title
This article shall be known and may be cited as the Mississippi Qualified Disposition in Trust Act.
§ 91-9-703. Definitions
As used in this article, unless the context otherwise requires: “Claim” means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. “Creditor” means, with respect to a transferor, a person who has a claim. “Debt” means liability on […]
§ 91-9-705. Qualified affidavit; contents
A qualified affidavit shall state that: The transferor has full right, title, and authority to transfer the assets to the trust; The transfer of the assets to the trust will not render the transferor insolvent; The transferor does not intend to defraud a creditor by transferring the assets to the trust; The transferor does not […]
§ 91-9-611. Impartiality
If a trust has two (2) or more beneficiaries, the trustee shall act impartially in investing and managing the trust assets, taking into account any differing interests of the beneficiaries.