Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY Chapter 469 • Effective - 28 Aug 2004 469.901. Trustee duties, settlor may restrict or expand. — 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.
Missouri Legal Code