469.901. 1. Except as otherwise provided in subsection 2 of this section, or by other applicable laws, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in this act**.
2. A settlor may expand or restrict the prudent investor rule detailed in this act** by express provisions in the trust instrument. A trustee is not liable to a beneficiary for the trustee's good faith reliance 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.
Missouri General Assembly