Section 473.333

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 473

Effective - 28 Aug 2006, 2 histories, see footnote   (history) 

  473.333.  Investment of surplus funds. — If it appears that there is a surplus of money in the hands of the personal representative that will not shortly be required for the expenses of administration, or payment of claims, taxes or other required disbursements, the personal representative shall make such investment of the money on or after August 28, 1998, in accordance with the provisions of the Missouri prudent investor act, sections 469.900 to 469.913, RSMo. The personal representative may also, without an order of court, invest in (1) direct obligations of, or obligations unconditionally guaranteed as to principal and interest, by the United States, or (2) accounts of savings and loan associations to the extent the accounts are insured by the Federal Savings and Loan Insurance Corporation, without inquiry as to whether the investment is reasonable and prudent. An order of court authorizing investments pursuant to this section does not relieve a personal representative or his sureties of responsibility and liability if the investment made is not in fact in accordance with the Missouri prudent investor act, sections 469.900 to 469.913, RSMo.

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(RSMo 1939 § 104, A.L. 1955 p. 385 § 126, A.L. 1957 p. 829, A.L. 1980 S.B. 637, A.L. 1982 S.B. 700 Revision, A.L. 1998 H.B. 1571, A.L. 2006 S.B. 892)

Prior revisions: 1929 § 104; 1919 § 103; 1909 § 111

CROSS REFERENCE:

Multinational banks, securities and obligations of, investment in, when, RSMo 409.950