Section 469.240

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 469

Effective - 28 Aug 2004, 2 histories   

  469.240.  Definitions. — 1.  In sections 469.240 to 469.350 unless the context or subject matter otherwise requires:

  (1)  "Bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking;

  (2)  "Fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate;

  (3)  "Person" includes a corporation, partnership, or other association, or two or more persons having a joint or common interest;

  (4)  "Principal" includes any person to whom a fiduciary as such owes an obligation.

  2.  A thing is done "in good faith" within the meaning of sections 469.240 to 469.350, when it is in fact done honestly, whether it be done negligently or not.

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(L. 1959 S.B. 121 § 1, A.L. 2004 H.B. 1511)

Transferred 2004; formerly 456.240