Effective - 28 Aug 2009
436.440. Provisions applicable to all preneed trusts. — 1. The provisions of this section shall apply to all preneed trusts, including trusts established before August 28, 2009.
2. A preneed trustee may delegate to an agent duties and powers that a prudent trustee of comparable skills would reasonably delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in:
(1) Selecting an agent;
(2) Establishing the scope and terms of the agency, consistent with the purposes and terms of the trust; and
(3) Periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the terms of the agency.
3. In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the agency.
4. By accepting a delegation of powers or duties from the trustee of a preneed trust, an agent submits to the jurisdiction of the courts of this state.
5. Delegation of duties and powers to an agent shall not relieve the trustee of any duty or responsibility imposed on the trustee by sections 436.400 to 436.520 or the trust agreement.
6. For trusts in existence as of August 28, 2009, it shall be permissible for those trusts to continue to utilize the services of an independent financial advisor, if said advisor was in place pursuant to section 436.031 as of August 28, 2009.
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(L. 2009 S.B. 1)
Structure Missouri Revised Statutes
Title XXVIII - Contracts and Contractual Relations
Chapter 436 - Special Purpose Contracts
Section 436.100 - Definitions.
Section 436.103 - Action for damages or injunction, jurisdiction.
Section 436.105 - Franchisor to have registered agent on file in office of secretary of state.
Section 436.150 - Definitions.
Section 436.157 - Contract for payment of royalties must be in writing, content.
Section 436.159 - Prohibited acts by performing rights society, exception — violations — penalties.
Section 436.163 - Laws applicable only to performing rights societies.
Section 436.215 - Citation of law.
Section 436.218 - Definitions.
Section 436.221 - Director's authority.
Section 436.233 - Sanctioning of certificate of registration, when — complaint procedure.
Section 436.236 - Temporary certificate of registration permitted, when.
Section 436.239 - Application fee — athlete agent fund created — rulemaking authority.
Section 436.248 - Cancellation of contract, when.
Section 436.251 - Records to be retained.
Section 436.254 - Prohibited acts.
Section 436.263 - Violations, penalties.
Section 436.266 - Uniformity considered in applying law.
Section 436.272 - Moneys collected for certain violations to be transferred to general revenue.
Section 436.300 - Private construction work contract payment requirements.
Section 436.303 - Contract provisions — retainage.
Section 436.306 - Security tendered, when.
Section 436.309 - Subcontractor may tender substitute security, when.
Section 436.312 - Substitute security requirements.
Section 436.315 - Withholding of retainage prohibited, when.
Section 436.318 - Release of retainage, payment made.
Section 436.321 - Adjustment in retainage, when.
Section 436.324 - Release of retainage, when.
Section 436.327 - Substantial completion defined.
Section 436.330 - Subcontractor obligations.
Section 436.333 - Unenforceability of contracts entered into after August 28, 2002.
Section 436.336 - Applicability.
Section 436.350 - Definitions.
Section 436.353 - Notice of offer to cure defects by contractor, contents — effect on court actions.
Section 436.362 - Mediation requirements.
Section 436.365 - Law not to restrict or inhibit other remedies or ability to contract.
Section 436.400 - Citation of law — applicability.
Section 436.405 - Definitions.
Section 436.410 - Applicability exceptions.
Section 436.412 - Violations, disciplinary actions authorized — governing law for contracts.
Section 436.415 - Provision of certain services required by provider — seller's duties.
Section 436.430 - Trust-funded preneed contract requirements.
Section 436.440 - Provisions applicable to all preneed trusts.
Section 436.445 - Trustee not to make decisions, when.
Section 436.450 - Insurance-funded preneed contract requirements.
Section 436.455 - Joint account-funded preneed contract requirements.
Section 436.456 - Cancellation of contract, when, procedure.
Section 436.457 - Seller's right to cancel, when, procedure.
Section 436.458 - Alternative provider permitted, when.
Section 436.460 - Seller report to board required, contents — fee — filing of reports.
Section 436.465 - Record-keeping requirements of seller.
Section 436.470 - Complaint procedure — violation, attorney general may file court action.
Section 436.480 - Death or incapacity of purchaser, transfer of rights and remedies, to whom.
Section 436.485 - Violations, penalties.
Section 436.490 - Sale of business assets of provider — report to board required, contents.
Section 436.500 - Sale of business assets by seller, report to board required, contents.
Section 436.505 - Credit life insurance may be offered to purchaser.
Section 436.510 - Seller's failure to make timely payment, effect of — rights of purchaser.