Section 456.8-807

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 456

Effective - 01 Jan 2005, see footnote   

  456.8-807.  Delegation by trustee. — 1.  A trustee may delegate to an agent duties and powers that a prudent trustee of comparable skills could properly 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 delegation, 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 delegation.

  2.  In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation.

  3.  A trustee who complies with subsection 1 of this section is not liable to the beneficiaries or to the trust for an action of the agent to whom the function was delegated.

  4.  By accepting a delegation of powers or duties from the trustee of a trust that is subject to the law of this state, an agent submits to the jurisdiction of the courts of this state.

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(L. 2004 H.B. 1511)

Effective 1-01-05