30.956. Investment trust powers. - Missouri Statutes

Investment trust powers.

30.956. The investment trust is hereby granted, has and may exerciseall powers necessary or appropriate for it or its agents or employees tocarry out and effectuate its purpose, including but not limited to thefollowing:

(1) To purchase, acquire, hold, invest, lend, lease, sell, assign,transfer and dispose of all funds, property, rights and securities, andenter into written contracts, releases, compromises and other instrumentsnecessary or convenient for the exercise of its powers, or to carry out thepurposes of a trust agreement or sections 30.953 to 30.971;

(2) To make, and from time to time, amend and repeal bylaws, rulesand regulations not inconsistent with the provisions of sections 30.953 to30.971 for the regulation of its affairs and the conduct of its business;

(3) To accept appropriations, gifts, grants, bequests and devises andto utilize or dispose of the same to carry out its purpose or the terms ofa trust agreement;

(4) To invest any funds or property not required for immediatedisbursement in accordance with sections 30.953 to 30.971, and consistentwith the principles set forth in sections 105.687 to 105.690, RSMo, exceptthat nothing herein shall be deemed to authorize investment in venturecapital firms or small business investment companies, as defined in thosestatutory sections;

(5) To sue and be sued;

(6) To have a seal and alter the same at will;

(7) To enter into agreements or other transactions with any federalor state agency, person, or domestic or foreign partnership, corporation,association or organization;

(8) To procure insurance against any loss in connection with theproperty it holds in trust in such amounts and from such insurers as may benecessary or desirable;

(9) To hire or retain such agents or employees as necessary to carryout and effectuate its purpose and the requirements of sections 30.953 to30.971.

(L. 1997 S.B. 449)