469.910. Trust terms and phrases, definition.
Trust terms and phrases, definition.
469.910. The following terms or comparable language in the provisionsof a trust, unless otherwise limited or modified, authorize any investmentor strategy permitted under this act**: "investments permissible by lawfor investment of trust funds", "legal investments", "authorizedinvestments", "using the judgment and care under the circumstances thenprevailing that persons of prudence, discretion, and intelligence exercisein the management of their own affairs, not in regard to speculation but inregard to the permanent disposition of their funds, considering theprobable income as well as the probable safety of their capital", "prudentman rule", "prudent trustee rule", "prudent person rule", and "prudentinvestor rule".
(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.