Section 469.902 – Trustee duties and powers — decisions to be evaluated in context of trust.
Effective – 28 Aug 2004 469.902. Trustee duties and powers — decisions to be evaluated in context of trust. — 1. A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise […]
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