Section 469.903 – Diversification required, exception.
Effective – 28 Aug 2004 469.903. Diversification required, exception. — A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying. ——– (L. 1996 H.B. 1432, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.903
Section 469.904 – Trust assets, retention and disposition.
Effective – 28 Aug 2004 469.904. Trust assets, retention and disposition. — Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets in order to bring the trust portfolio into compliance with the purposes, […]
Section 469.905 – To whom duty owed.
Effective – 28 Aug 2004 469.905. To whom duty owed. — A trustee shall invest and manage the trust assets solely in the interest of the beneficiaries. ——– (L. 1996 H.B. 1432, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.905
Section 469.463 – Uniformity considered in application and construction.
Effective – 28 Aug 2001 469.463. Uniformity considered in application and construction. — In applying and construing sections 469.401 to 469.467, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. ——– (L. 2001 H.B. 241)
Section 469.465 – Severability clause.
Effective – 28 Aug 2001 469.465. Severability clause. — If any provision of sections 469.401 to 469.467 or the application of these sections to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of sections 469.401 to 469.467 which can be given effect without the invalid provision or […]
Section 469.467 – Applicability of sections.
Effective – 28 Aug 2016, 2 histories 469.467. Applicability of sections. — Sections 469.401 to 469.467 apply to every trust or decedent’s estate existing on or after August 28, 2001, except as otherwise expressly provided in the will or terms of the trust or in sections 469.401 to 469.467. ——– (L. 2001 H.B. 241, A.L. […]
Section 469.600 – Doctrine of worthier title and Rule in Bingham’s case abolished, effect of language describing beneficiaries.
Effective – 28 Aug 2006 469.600. Doctrine of worthier title and Rule in Bingham’s case abolished, effect of language describing beneficiaries. — The doctrine of worthier title and the Rule in Bingham’s case is abolished as a rule of law and as a rule of construction. Language in a governing instrument describing the beneficiaries of […]
Section 469.900 – Citation of law — definitions.
Effective – 28 Aug 2004 469.900. Citation of law — definitions. — Sections 469.900 to 469.913 shall be known, and may be cited, as the “Missouri Prudent Investor Act”. As used in this act, the term “trustee” includes independent personal representatives and trustees, whether of express or implied trusts, and the term “trust” includes independently […]
Section 469.443 – Sale of timber and related products, allocation of net receipts.
Effective – 28 Aug 2001 469.443. Sale of timber and related products, allocation of net receipts. — 1. To the extent that a trustee accounts for receipts from the sale of timber and related products pursuant to this section, the trustee shall allocate the net receipts: (1) To income to the extent that the amount […]
Section 469.445 – Marital deduction, insufficient income, allowable actions.
Effective – 28 Aug 2001 469.445. Marital deduction, insufficient income, allowable actions. — 1. If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse with sufficient income from or use of the trust assets, and if the amounts that the […]