469.901. Trustee duties, settlor may restrict or expand. - Missouri Statutes

Trustee duties, settlor may restrict or expand.

469.901. 1. Except as otherwise provided in subsection 2 of thissection, or by other applicable laws, a trustee who invests and managestrust assets owes a duty to the beneficiaries of the trust to comply withthe prudent investor rule set forth in this act**.

2. A settlor may expand or restrict the prudent investor ruledetailed in this act** by express provisions in the trust instrument. Atrustee is not liable to a beneficiary for the trustee's good faithreliance 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.