Effective - 28 Aug 2004
469.910. Trust terms and phrases, definition. — The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorize any investment or strategy permitted under this act*: "investments permissible by law for investment of trust funds", "legal investments", "authorized investments", "using the judgment and care under the circumstances then prevailing that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital", "prudent man rule", "prudent trustee rule", "prudent person rule", and "prudent investor rule".
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(L. 1996 H.B. 1432, A.L. 2004 H.B. 1511)
Transferred 2004; formerly 456.910
*"This act" (H.B. 1432, 1996) contained numerous sections. Consult Disposition of Sections table for a definitive listing.
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.