Effective - 28 Aug 2004, 2 histories
469.240. Definitions. — 1. In sections 469.240 to 469.350 unless the context or subject matter otherwise requires:
(1) "Bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking;
(2) "Fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate;
(3) "Person" includes a corporation, partnership, or other association, or two or more persons having a joint or common interest;
(4) "Principal" includes any person to whom a fiduciary as such owes an obligation.
2. A thing is done "in good faith" within the meaning of sections 469.240 to 469.350, when it is in fact done honestly, whether it be done negligently or not.
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(L. 1959 S.B. 121 § 1, A.L. 2004 H.B. 1511)
Transferred 2004; formerly 456.240
Structure Missouri Revised Statutes
Title XXXI - Trusts and Estates of Decedents and Persons Under Disability
Chapter 469 - Disclaimers of Property
Section 469.010 - General rule, effect of disclaimer.
Section 469.020 - Disclaimer, how and when made — delivery — right to disclaim.
Section 469.040 - Revocable transfers.
Section 469.050 - Separate interests, disclaimers or acceptance.
Section 469.070 - Contingent interests.
Section 469.080 - Per stirpes transfers.
Section 469.090 - Special rules for interests under old transfers.
Section 469.100 - Special rule for persons attaining majority — transfers after 1976.
Section 469.110 - Chapter not exclusive.
Section 469.120 - Retroactive effect.
Section 469.240 - Definitions.
Section 469.260 - Transfer of negotiable instrument by fiduciary.
Section 469.270 - Check drawn by fiduciary payable to third person.
Section 469.280 - Check drawn by and payable to fiduciary.
Section 469.290 - Deposit in name of fiduciary as such.
Section 469.300 - Deposit in name of principal.
Section 469.310 - Deposit in fiduciary's personal account.
Section 469.320 - Deposit in name of two or more trustees.
Section 469.330 - Cases not provided for in law.
Section 469.340 - Uniformity of interpretation.
Section 469.350 - Short title.
Section 469.401 - Definitions.
Section 469.402 - Applicability.
Section 469.403 - Disbursements to or between principal and income, fiduciary's responsibilities.
Section 469.409 - Bar on claim of breach of fiduciary duty, when — applicable rules.
Section 469.413 - Death of decedent or end of income interest, applicable rules.
Section 469.415 - Rights of beneficiaries to net income.
Section 469.419 - Trustee to allocate income receipt or disbursement, when.
Section 469.421 - Mandatory income interest, undistributed income, paid when.
Section 469.423 - Allocations by trustee — entity defined.
Section 469.425 - Allocations to income or principal.
Section 469.427 - Separate accounting records maintained, when, procedure.
Section 469.429 - Allocations to principal.
Section 469.431 - Rental property, allocation to income.
Section 469.433 - Life insurance proceeds allocated to principal — dividends allocated to income.
Section 469.443 - Sale of timber and related products, allocation of net receipts.
Section 469.445 - Marital deduction, insufficient income, allowable actions.
Section 469.449 - Allocation of collateral financial assets and asset-backed securities.
Section 469.451 - Required disbursements from income.
Section 469.453 - Required disbursements from principal.
Section 469.455 - Depreciation not to be transferred.
Section 469.457 - Principal disbursement, permitted transfers.
Section 469.459 - Taxes to be paid from income or principal, when.
Section 469.463 - Uniformity considered in application and construction.
Section 469.465 - Severability clause.
Section 469.467 - Applicability of sections.
Section 469.900 - Citation of law — definitions.
Section 469.901 - Trustee duties, settlor may restrict or expand.
Section 469.902 - Trustee duties and powers — decisions to be evaluated in context of trust.
Section 469.903 - Diversification required, exception.
Section 469.904 - Trust assets, retention and disposition.
Section 469.905 - To whom duty owed.
Section 469.906 - Multiple beneficiaries, duty owed to whom.
Section 469.907 - Restriction on costs.
Section 469.908 - Prudent investor rule, standard.
Section 469.910 - Trust terms and phrases, definition.
Section 469.911 - Applicability of certain sections.